TANKERS MITSUBISHI HEAVY INDUSTRIES LTD. this month unveiled the world's first very large crude carrier fitted with fuel saving contrarotating propellers. The propellers, developed by Mitsubishi, are mounted on concentric shafts and turn in opposite directions. The aft propeller absorbs swirl flow energy generated by the fore propeller, giving a VLCC a 15% fuel savings. The 258,000 dwt tanker was to be launched last week and will be delivered to owner Cosmo Oil Co. in March. GAS PROCESSING PHILLIPS PETROLEUM CO. began restoring the site of its closed Tajiguas gas processing plant on the Santa Barbara County, Calif., coast near Gaviota. Ga...

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