Processing 2001 P

06/11/2001 -- 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.
06/08/2001 -- 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.
06/08/2001 -- 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.
06/08/2001 -- 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.
06/07/2001 -- 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.
06/07/2001 -- 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.
06/07/2001 -- 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.
06/06/2001 -- 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.
06/06/2001 -- 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.
06/06/2001 -- 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.
06/06/2001 -- 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.
06/05/2001 -- 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.
06/05/2001 -- Exploration/Development news briefs, June 5
Sheer Energy ... Tiverton Petroleums ... Petroleo Brasileiro ... Veritas DGC ... Pioneer Natural Resources ... Essential Petroleum Resources ... Eagle Bay Resources
06/05/2001 -- 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.
06/05/2001 -- 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.
06/05/2001 -- Ondeo Nalco buys rest of Nalco/Exxon Energy Chemicals
Ondeo Nalco Co., Naperville, Ill., has bought ExxonMobil Chemical's 40% interest in the Nalco/Exxon Energy Chemicals LP (NEEC) joint venture. NEEC will continue as a limited partnership under the leadership of NEEC Pres. and CEO Jack Shubert.
06/04/2001 -- 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.
06/04/2001 -- 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.
06/04/2001 -- 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.
06/04/2001 -- Chavez says Venezuela could supply more of US energy needs
Venezuelan President Hugo Chavez said Saturday that his nation was prepared to help the US meet its energy policy goals. Specifically, he said Venezuela is working to increase its natural gas production and is studying the possibility of exports through gas-to-liquids technology.

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