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Processing 2001 P15

  • Mon Jun 04 15:06:00 CDT 2001 -- Phillips launches sulfur credit trading service
    Phillips Petroleum Co. has begun offering a sulfur credits clearinghouse to refiners, the company announced Monday. The Phillips service connects refiners with excess sulfur credits with those in need.
  • Mon Jun 04 16:06:00 CDT 2001 -- Canargo Energy proposes refining expansion in central Georgia
    Canargo Energy Corp., Calgary, Monday announced an agreement with the Georgian government for CanArgo to formally progress with plans for a proposed 25,000-30,000 b/d refinery near Tbilisi, the Georgian capital. Canargo has an existing refinery with a capacity of 4,000 b/d. The refinery is 25 km east of Tbilisi.
  • Mon Jun 04 16:06:00 CDT 2001 -- New York ISO president calls for new electric generation
    The president of the New York Independent System Operator characterized the state's electricity supply outlook this summer as 'tight, but marginally acceptable,' and prices as stable compared to a year ago. New York's in state supply could fall somewhat short of demand in June, according to William J. Museler, but supply within New York City is projected to just keep up with demand through September.
  • Tue Jun 05 12:06:00 CDT 2001 -- Murkowski says Senate Democratic majority faces challenges on energy policy
    US Sen. Frank Murkowski (R-Alas.), outgoing chairman of the Senate Committee on Energy and Natural Resources, Tuesday told the new Senate majority it still must move forward with legislation "that ensures reliable, affordable energy." He pledged to work with new chairman Jeff Bingaman (D-NM) to meet that goal.
  • Tue Jun 05 13:06:00 CDT 2001 -- US energy secretary says nation needs more refining infrastructure
    Speaking from the last refinery built in the country, US Energy Sec. Spencer Abraham Tuesday called for more infrastructure as he promoted President George W. Bush's national energy plan during a tour of the 25-year-old Marathon Ashland Petroleum LLC refinery in Garyville, La. Abraham said about 50 US refineries have closed in 10 years, leaving little surplus capacity nationwide in case any refinery experiences problems.
  • Tue Jun 05 16:06:00 CDT 2001 -- Sempra Atlantic seeks to reopen Nova Scotia gas deal
    Nova Scotia will not support an application by Sempra Atlantic Gas, a unit of Sempra Energy, to make fundamental changes to its provincial gas distribution franchise, said Gordon Balser, minister of the Petroleum Directorate. In a recent application to regulators, Sempra Atlantic asked for support to make major changes to its agreement.
  • Wed Jun 06 09:06:00 CDT 2001 -- Overbuilding threatens flat ethylene profits through 2005
    Short-term ethylene margins will remain volatile, but long term, they will be flat for many years, said UBS Warburg LLC in its Global Ethylene Review. In the base case 5-year outlook, UBS Warburg assumed 4.1%/year compounded demand growth but said supply will grow at 4.8%/year through 2005.
  • Wed Jun 06 12:06:00 CDT 2001 -- Environmental groups criticize EPA efforts on diesel advisory panel
    Environmental groups Wednesday said they fear the US Environmental Protection Agency is already trying to undermine a controversial diesel low sulfur regulation that industry is trying to have overturned in court. Industry says the current proposal could cause supply problems down the road.
  • Wed Jun 06 12:06:00 CDT 2001 -- Siirtec to revamp sulfur units for Iranian refineries
    Sinopec Engineering Inc. of China has awarded Siirtec Nigi SPA, Milan, a contract to revamp the sulfur recovery units of two Iranian refineries. The contract is part of the Caspian Sea Republics' Oil Swap Project, an effort to provide a competitive export route to outside markets.
  • Wed Jun 06 12:06:00 CDT 2001 -- Australia to facilitate construction of dimethyl ether plant
    Australia has awarded a proposed dimethyl ether plant in Pilbara region of Western Australia major project facilitation status. Sen. Nick Minchin, the Australian minister for Industry, Science, and Resources, said the proposal shows industry interest in using Australia as a focal point for the commercialization of gas-to-liquids technology.
  • Thu Jun 07 10:06:00 CDT 2001 -- Market watch: High US inventories push down international oil prices
    Increased US inventories of oil and petroleum products caused crude futures prices to fall on international markets Wednesday, wiping out previous gains this week. The July contract for benchmark US light, sweet crudes fell by 52¢ to $27.72/bbl on the New York Mercantile Exchange.
  • Thu Jun 07 13:06:00 CDT 2001 -- EIA cuts gas spring/summer gas price forecast on lower demand
    Falling demand for natural gas to fuel electric generation in the first 5 months of the year helped send gas prices plunging and led to higher than expected injections into storage, said the Energy Information Administration in its June assessment. EIA estimated electric utility demand for gas fell 16% between January-May from year ago levels, as electric utilities turned to other fuels because of high prices.
  • Thu Jun 07 14:06:00 CDT 2001 -- PJM endorses $420 million in transmission projects
    PJM Interconnection LLC endorsed more than $420 million of transmission projects, bringing to $720 million the amount of new facilities the mid-Atlantic grid operator has approved for construction in the past 2 years. The two phases of the plan, approved to date, will accommodate more than 27,500 Mw of new generating capacity in the PJM region, the board said.
  • Fri Jun 08 09:06:00 CDT 2001 -- Sinopec to revamp Nanjing refinery to run more sour crude
    China Petroleum & Chemical Corp. (Sinopec) plans to expand its 8-million-tonne/year Jinling Petrochemical Corp. refinery at Nanjing to 13 million tonnes/year. The changes at the plant in Jiangsu province will increase sour crude processing capacity by 3 million tonnes/year to 7 million.
  • Fri Jun 08 17:06:00 CDT 2001 -- Gov. Davis urges refiners be exempted from California outages
    California Gov. Gray Davis said Friday he has urged the Public Utilities Commission to exempt the state's refineries from rotating electrical outages this summer. Several of California's 12 refineries had petitioned the PUC for waivers after the commission did not give them automatic exemptions.
  • Fri Jun 08 18:06:00 CDT 2001 -- California ISO wants generators market-based authority revoked
    California's grid operator Friday asked federal regulators to revoke market-based pricing authority for four of the state's largest independent power producers and institute cost-based rates instead. Charles Robinson, general counsel for the California Independent System Operator, said the grid manager also asked regulators to force Duke, Mirant, Dynegy, Reliant Energy to 'disgorge' profits over and above a cost-of-service return back to May 2000.
  • Mon Jun 11 13:06:00 CDT 2001 -- Two Houston area refineries reduce runs
    Two Houston area refineries were operating at reduced capacity Monday after Tropical Storm Allison flooded the upper Texas Gulf Coast over the weekend. The Lyondell-Citgo Refining facility is running at half its 272,000 b/d capacity, while the Shell Deer Park refinery had reduced throughput by 20,000 b/d.
  • Mon Jun 11 16:06:00 CDT 2001 -- Analyst says NGLs boosted gas supply
    Natural gas supplies rose in the first quarter of this year but natural gas liquids played a significant role in the rise, says financial analyst Marshall Adkins, who views the increase as temporary. Adkins, the director of energy research for Raymond James & Associates, Houston, estimated about 1.5 bcfd of additional gas came from processors leaving liquids in the natural gas stream.
  • Tue Jun 12 10:06:00 CDT 2001 -- Petroplus reports brief fire at Antwerp refinery
    Petroplus International NV, Amsterdam, announced the reformer unit is down at its 65,000 b/d refinery in Antwerp, Belgium, following a brief fire Monday that caused no injuries and no danger to the environment. Cause of the fire and the extent of damage was under investigation Tuesday. Petroplus International focuses on the European midstream oil market.
  • Tue Jun 12 14:06:00 CDT 2001 -- EPA denies gasoline oxygen waiver for California
    The US Environmental Protection Agency Tuesday denied California's request to waive the federal oxygen content requirement for reformulated gasoline, Administrator Christie Whitman announced. Ethanol supporters stand to gain from the decision as more and more states ban the competing oxygenate methyl tertiary butyl ether.
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