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Processing 2002 P6

  • 04/02/2002 -- Duke Energy completes acquisition of Westcoast Energy
    Duke Energy Corp. has closed on the previously announced acquisition of Vancouver, BC-based Westcoast Energy Inc. The transaction, valued at about $8 billion based on cash, stock consideration, and debt assumed, is expected to be accretive to Duke Energy's earnings.
  • 04/03/2002 -- Petrobras sticks with growth plans, says new CEO
    Petrobras Pres. and CEO Francisco GrosAs part of its growth plan, Brazil's state oil company Petrobras is shopping for a company with 100,000 boe/d of production in the US Gulf of Mexico.
  • 04/03/2002 -- Pakistan promoting CNG industry in Iran
    Pakistan is seeking to help Iran develop its compressed natural gas motor fuel industry. As one of the world's largest CNG motor fuel users, Pakistan is in a position to provide technical expertise and cooperation to develop and promote the CNG industry in Iran, a government official said.
  • 04/03/2002 -- SABIC to acquire DSM's petrochemicals business for almost $2 billion
    Saudi Arabia Basic Industries Corp, (SABIC) has reached an agreement in principle with DSM BV to purchase DSM's petrochemicals business for 2.25 billion euros ($1.98 billion). With the acquisition, SABIC, already the largest petrochemicals producer in the Middle East, will move from 22nd to 11th largest in global petrochemicals.
  • 04/08/2002 -- Shell contracts LNG for planned western Mexico terminal
    Royal Dutch/Shell unit Shell Gas & Power has secured initial supplies for its proposed LNG regasification terminal in Costa Azul, in the municipality of Ensenada, Baja California, on Mexico's West Coast. Shell did not identify the sources of the initial supply of 7.5 million tonnes/year for the project, other than to say they were in the Asia-Pacific region.
  • 04/09/2002 -- Koch Holdings Enterprises acquires 40% stake in NGL fractionator
    Koch Holdings Enterprises LLC has bought 40% ownership of a natural gas liquids fractionator from subsidiaries of Valero Energy Corp., San Antonio. Koch Holdings Enterprises, through its subsidiaries, is now an 80% shareholder in the 160,000 b/d Mont Belvieu 1 fractionator. Terms of the deal aren't disclosed.
  • 04/10/2002 -- Market watch: Oil futures prices fall as embargo fears subside
    Energy futures prices fell Tuesday as Israeli troops withdrew from some of the disputed Palestinian territories and Saudi Arabia pledged to make up any shortfall from Iraq's embargo of oil exports.
  • 04/11/2002 -- ESAI: Chinese gasoline exports expected to 'explode'
    Gasoline exports from China appear ready to "explode," according to Boston-based research firm Energy Security Analysis Inc.
  • 04/16/2002 -- Suncor's oil sands hydrogen unit down for repairs
    Suncor Energy Inc. has shut down its Millennium oil sands project hydrogen unit to replace a leaking gasket that led to a small fire Apr. 9. The outage of this hydrogen unit—one of two at the oil sands plant—is expected to take up to 10 days and is expected to reduce average production in April to about 180,000 b/d.
  • 04/17/2002 -- Duke Energy unit awards contract for construction of Hanging Rock power facility
    Duke Energy North America (DENA), a unit of Duke Energy Corp., Charlotte, NC, let a turnkey engineering contract to Duke/Fluor Daniel for the engineering, procurement, and construction of the company's 1,240 Mw natural-gas fired Hanging Rock electric generation facility in Hamilton Township, Lawrence County, Ohio. The contract amount was not disclosed.
  • 04/19/2002 -- Beyond ANWR
    There's more to US energy policy than drilling in Alaska or expanding fuel ethanol production. But both topics have largely overshadowed the public's interest in other industry issues as the US Congress considers the most sweeping energy reform bill in a decade.
  • 04/23/2002 -- Contract awarded for Omani giant ammonia-urea complex
    Oman-India Fertilizer Co. has awarded a lump-sum turnkey contract valued at $770 million to Technip-Coflexip and 50:50 joint venture partner Snamprogetti SPA for the design and construction of a grassroots ammonia-urea complex—said to be the world's largest—in Oman. Financing for the project is under way.
  • 04/24/2002 -- Market watch: Bearish inventory report dampens oil futures prices
    Energy futures prices generally advanced Tuesday. However, oil prices declined in after-hours electronic trading on the New York Mercantile Exchange following a more bearish assessment of US petroleum inventories by the American Petroleum Institute.
  • 05/02/2002 -- Contracts awarded at Kårstø gas treatment complex
    Statoil ASA, on behalf of Norway's new state-owned company, Gassco AS, has awarded Fabricom Contracting NV a contract to prefabricate and install mechanical and electrical equipment, including instrumentation, as part of the development project at the Kårstø gas treatment complex in southern Norway.
  • 05/03/2002 -- Court rules in favor of EPA low sulfur diesel rule
    The US Court of Appeals for the D.C. Circuit on Friday upheld a controversial low sulfur diesel fuel issued by the Environmental Protection Agency and opposed by industry. Refiners that filed suit against the agency called the court's decision "disappointing."
  • 05/07/2002 -- Benzene, cyclohexane demand plunges, while cumene, phenol thrive
    The year 2001 was one of the worst years for benzene demand, according to a recently completed Chemical Market Associates Inc. study. However, conditions are in place to reverse that trend and firm up demand within the next 4 years. CMAI also updated the outlooks for cumene and phenol—which continue to enjoy strong demand growth—and cyclohexane, which is languishing.
  • 05/13/2002 -- Hungary awards Linde ethylene plant contract
    Hungary's petrochemical company Tiszai Vegyi Kombinat Rt. has awarded Wiesbaden-based Linde AG a contract for a new ethylene plant at Tiszaujvaros in northeastern Hungary. The plant is part of TVK's planned extensive, 430 million euro petrochemical development project.
  • 05/13/2002 -- Sunoco to close La Porte, Tex., polypropylene line
    Philadelphia-based Sunoco Inc., said it will permanently shut down a 200 million lb/year polypropylene line at its Sunoco Chemical La Porte, Tex., plant during the third quarter. Two other lines at the plant will continue to produce 800,000 million lb/year.
  • 05/13/2002 -- Praxair expands Texas hydrogen pipeline capacity
    Praxair Inc. and Valero Logistics Operations LP have exchanged certain Texas Gulf Coast pipeline assets of different capacities to enhance both of their hydrogen systems. The action doubles Praxair's Houston-Texas City, Tex., hydrogen pipeline capacity in response to increased hydrogen demand.
  • 05/14/2002 -- Freedonia Group: US fuel additives demand to grow 4.8%/year during 2001-06
    US fuel additives demand is expected to grow 4.8%/year during 2001-06 to $12.6 billion in 2006, said Freedonia Group Inc., a Cleveland market research firm, in a new study.

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