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Processing 2001 P17

  • 06/21/2001 -- Regional European oil companies will merge 'in the long run'
    The economic rationale for consolidation of the dominant oil and gas companies of Poland, Hungary, and Austria is still insufficient to tip the scales in favor of a full-scale merger, according to a report by Raiffeisen Zentralbank Österreich AG. It said a combination of PKN Orlen, MOL Rt., and OMV AG would create a company with broad synergies but national pride prevents merger discussions.
  • 06/21/2001 -- Report proves negative impact of price controls, DOE says
    California will likely experience nearly 5 days of rolling blackouts this summer affecting 1.4 million households, but the situation would worsen under a hard price cap or cost-plus prices, the US Department of Energy said in a new analysis. Separately, US Sen. Barbara Boxer (D-Calif.) Wednesday said she introduced the 'Electricity Gouging Relief Act of 2001.'
  • 06/21/2001 -- Market watch: Big inventories trigger price plunge
    Energy futures prices plummeted on international markets Wednesday as the buildup of US inventories relieved fears of summer gasoline shortages. The July contract for unleaded gasoline plunged to a 3-month low, down 6.34¢ to 79.03¢/gal on the New York Mercantile Exchange.
  • 06/21/2001 -- Group claims automakers could boost fuel economy dramatically
    The Union of Concerned Scientists said Wednesday US automakers could apply existing technologies to increase the average fuel economy of their vehicles from 24 mpg today to more than 40 mpg by 2012 and 55 mpg by 2020.
  • 06/21/2001 -- Shell Chemical plans $400 million revamp for Deer Park olefins plant
    Shell Chemical LP Thursday announced plans for a $400 million expansion of a lower olefins plant in Deer Park, Tex. The company plans a major cracker debottlenecking project, adding 500,000 tonnes/year of ethylene capacity. When completed, the facility will be able to produce 1.3 million tonnes/year of ethylene.
  • 06/21/2001 -- Genoil to test upgrading technology for oil sands production
    Genoil Inc. has completed an agreement with Synenco Energy Inc. to test Genoil's pilot heavy oil upgrading technology. Genoil said its technology for upgrading oil sands bitumen to high-quality synthetic crude oil has potential lower capital and operating costs than other upgrading technologies.
  • 06/21/2001 -- Gas prices will drive up Texas summer power costs
    Texas consumers will have plenty of electricity this summer, but they can expect to pay 18-30% more for it than last summer because of higher gas prices, state regulators said. A spokesman for the Texas Public Utility Commission also said it's still unclear if the delayed Texas competition pilot will start July 6.
  • 06/21/2001 -- Qatar opens $695 million petrochemical plant
    Qatar Vinyl Co. Ltd. Thursday officially opened a $695 million petrochemical plant at Mesaieed Industrial City south of Doha. The plant has nameplate capacity of 230,000 tonnes/year of vinyl chloride monomer, 175,000 tonnes of ethylene dichloride, and 290,000 tonnes/year of caustic soda.
  • 06/22/2001 -- OPEC, markets complacent in face of impending Iraqi 'train wreck'
    OPEC and oil markets are feeling complacent, but is an oil price spike looming in the third quarter?
  • 06/22/2001 -- Two firms interested in buying Peruvian refineries
    Petroperu Chairman Raul Pasco said that a US firm and a Latin American company have shown interest in buying Petroperu�s refineries. A new government, which takes office July 28, has indicated it would consider selling at least part ownership of the plants.
  • 06/22/2001 -- PECO predicts a 6% rise in peak demand this summer
    PECO Energy Co., Philadelphia, Pa., forecast peak demand will be up 6% this summer compared to last but won't reach the all-time high set in 1999. This summer's peak will be an estimated 7,750 Mw. Electricity use in PECO's service area peaked at a record 7,959 Mw July 6, 1999.
  • 06/25/2001 -- UK oil industry launches £1.5 million technician recruitment drive
    The UK oil and gas industry Monday moved to head off a major skilled labor shortage in the UK North Sea by launching a recruitment drive to increase the number of technicians being trained over the next decade. E&P companies and the government-industry body Pilot will contribute £1.5 million over 3 years toward apprenticeship programs.
  • 06/25/2001 -- Coal-fired generation trims gas use, analyst says
    If the current pace of coal use continues, it could displace up to one-half the previously predicted increased demand for gas-fired electric generation this summer, said a Houston analyst. Rising utilization at coal plants is just one of the factors helping keep the lid on gas prices.
  • 06/26/2001 -- US House Committee votes to block Gulfstream pipeline
    The US House Committee on Appropriations Monday voted to block the construction of the Gulfstream pipeline project from Mobile Bay, Ala., across the Gulf of Mexico to central Florida. A Gulfstream spokesman said the attempt is symbolic, because construction has already begun.
  • 06/26/2001 -- Processing news briefs, June 26
    Petrovietnam ... Technip ... Samsung Engineering ... Equistar Chemicals ... Syntroleum ... Tessag ... Enron ... Ivanhoe Energy
  • 06/27/2001 -- China to more than double sour crude processing capacity by 2005
    Under a 5-year energy development plan, China plans to raise its sour crude refining capacity to 75 million tonnes/year by 2005, up from 30 million tonnes at the end of 2000. Sour processing capacity will make up 28% of the 270 million tonnes/year crude distillation capacity planned by 2005.
  • 06/27/2001 -- BP's Browne sees no problems with US refining capacity
    John Browne, BP PLC group chief executive, Tuesday said the US does not need any more refineries. The US imports more than 2 million b/d of products. Browne said the best US refineries are getting bigger and more efficient, through debottlenecking and technological improvements.
  • 06/27/2001 -- Shell Nederland to build benzene unit
    Shell Nederland Chemie BV will invest more than $25 million in a benzene extraction unit at its petrochemical facility at Moerdijk, the Netherlands, said Shell Chemicals Ltd.
  • 06/27/2001 -- Air Products brings hydrogen plant on stream at Port Arthur
    Air Products and Chemicals Inc., Lehigh Valley, Pa., has started a 100 MMscfd hydrogen plant at Port Arthur, Tex. and is supplying hydrogen, steam, and power to Premcor Refining Group Inc.'s adjacent 250,000-b/d refinery.
  • 06/27/2001 -- API says US gasoline prices are 20% off May peak
    The American Petroleum Institute said Wednesday that US gasoline prices dropped another 6¢/gal to an average of $1.538/gal (including taxes) during the week of June 22. API said the price of a gallon of regular gasoline is now almost 20¢/gal below May's high.

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