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Processing 2001 P18

  • 06/28/2001 -- Pakistan seeks investors for exploration and development
    Pakistan is looking for international investors to increase drilling activity in that country so that it can essentially double its production of oil and natural gas by 2012, said government officials said Thursday in Houston.
  • 06/28/2001 -- Bolivian company to build Rentech-technology GTL plant
    GTL Bolivia SA has signed a memorandum of understanding with Rentech Inc., Denver, to use its proprietary gas-to-liquids technology. After execution of a definitive licensing agreement, GTLB will begin designing a 10,000-b/d gas-to-liquids plant to be built in Bolivia.
  • 06/28/2001 -- California exempts oil refineries from electrical blackouts
    The California Public Utilities Commission Thursday voted 5-0 to exempt the state's refineries from rotating electrical outages this summer. Refiners had petitioned the PUC for waivers after a commission rule in April failed to give them automatic exemptions from blackouts.
  • 06/29/2001 -- Twarted urge to merge
    Industrial logic-some commixture of synergies and corporate survivalism-would appear to make an open-and-shut case for a full-scale, three-way merger among the leading regional oil and gas companies in central and eastern Europe, namely Poland's PKN Orlen, Hungary's MOL Rt., and Austria's OMV AG. Yet the formula that would fuse this trio together is stuck at the theoretical stage.
  • 06/29/2001 -- Saudi Arabian Oil Co. awards Technip NGL train contract
    Saudi Arabian Oil Co. has awarded Technip SA a lump sum, turnkey contract for the installation of a 100 MMscfd natural gas liquids compression train and associated facilities in an existing plant.
  • 07/02/2001 -- MMS prepares for streamlined royalty collection system this fall
    US Minerals Management Service official Lucy Denett says a streamlining of the royalty collection system this fall will make the process more efficient for both the government and oil producers.
  • 07/02/2001 -- OPEC expected to leave production unchanged at Tuesday meeting
    The Organization of Petroleum Exporting Countries is expected to leave its output levels unaltered when it meets Tuesday in Vienna for its second extraordinary meeting in the last month, despite Iraq's export halt. However, OPEC's decision to keep output at 24.2 million b/d would fly in the face of warnings from many oil industry observers.
  • 07/02/2001 -- US consumer group blames oil mergers, consolidations for higher prices
    The Consumer Federation of America said Monday recent mergers and consolidations have meant industry can more easily manipulate and profit from price fluctuations. An industry group replied that poorly executed regulations are to blame for higher prices.
  • 07/03/2001 -- Technip makes unsolicited offer to acquire Coflexip, Isis
    Engineering and construction contractor Technip SA made what it termed a friendly unsolicited offer for Coflexip SA and the Isis holding company. The deal would create Technip-Coflexip, a "world-class leader in oil and gas engineering, products, and solutions," said Technip, that would have the largest oil and gas services market capitalization in Europe.
  • 07/03/2001 -- US poll shows public blames industry for gasoline 'rip-off'
    An "overwhelming majority" -- 87% -- of the US public believes oil companies are "ripping off" consumers with high gasoline prices this summer, according to a Harris Poll released Tuesday. A plurality, 42%, said the industry is "mainly to blame" for increased fuel prices.
  • 07/03/2001 -- Texas regulators to look at reserve requirements
    Texas regulators next week will take up the thorny question of whether to set reserve margin requirements when the electric power industry deregulates in January. At issue is whether the adequacy of generating capacity in the state should be left to the market or whether some other mechanism should be used, and, if so, what.
  • 07/05/2001 -- Methanex to increase participation in Trinidad methanol projects
    Methanex Corp., Vancouver, has acquired options to participate or increase participation in two Trinidad and Tobago methanol projects from Beacon Group Energy Investment Fund LP for $17 million.
  • 07/06/2001 -- China cuts refinery runs 20% in July to reduce products stocks
    China will cut refinery runs 20% in July to 15.2 million tonnes in order to reduce high product inventories. The government's goal is to cut product stocks to 9 million tonnes by the end of July from the current 12 million tonnes. The higher inventories were partly caused by a ban on fishing.
  • 07/06/2001 -- Williams signs another pact to market fuel-grade ethanol
    A unit of Williams, Tulsa, said Friday it has an agreement to market all fuel-grade ethanol produced by Northeast Iowa Grain Processors Cooperative, Earlville, Iowa. The deal is Williams Bio-Energy LLC's seventh ethanol-marketing agreement in since the first of the year.
  • 07/09/2001 -- Woodside says Karratha disruption short-lived
    Woodside Energy Ltd., operator of the North West Shelf Venture off Australia, said Sunday that production is returning to normal after a process disruption at the venture's gas plant at Karratha, Western Australia.
  • 07/09/2001 -- Explosion and fire closes UDS refinery in Three Rivers, Tex.
    An explosion and fire closed Ultramar Diamond Shamrock Corp.'s 95,000-b/d refinery at Three Rivers, Tex., Monday. Three persons were injured, two of whom worked for contractors, but none of the injuries were believed to be serious. The fire was contained in the alkylation unit Monday afternoon but was still burning.
  • 07/10/2001 -- Ultramar Diamond Shamrock eyeing damage from Texas refinery fire
    Ultramar Diamond Shamrock Corp. was evaluating the damage to its 98,000-b/d refinery at Three Rivers, Tex., following a Monday fire. The company did not know when the refinery would resume operations but expected no significant disruptions in supplying its market with products.
  • 07/10/2001 -- Qatar Petroleum, Sasol award GTL contract to Foster Wheeler
    The Qatar Petroleum Co. (QP) and Sasol Synfuels International Co. have awarded Foster Wheeler Corp. the $30 million contract for the front-end engineering design of a gas-to-liquids plant to built at Ras Laffan Industrial City, Qatar.
  • 07/11/2001 -- Market watch: Energy futures prices decline
    International future prices for oil and refined products continued to decline in anticipation of a bearish report Tuesday of increased US inventories. Markets also were affected by news that Iraq is poised to resume oil exports through the Mediterranean port of Ceyhan in Turkey.
  • 07/11/2001 -- API says US oil imports set record in April, gasoline prices plunging
    The American Petroleum Institute said Wednesday that US imports of oil and products were a record 62.8% of domestic demand in April. The previous record was 61.5% in May 1999. API also said the price for a gallon of regular grade gasoline has fallen almost 28¢ in the 8 weeks since its peak in early May.
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