More Oil Company Executives News

ALASKA STEPPING UP STATE LAND EXPLORATION

Mar 18, 1991 Alaska has taken steps designed to spark more interest in oil and gas exploration on state owned land. Alaska's Department of Natural Resources (DNR) has asked oil and gas companies to participate in a series of stratigraphic test wells to identify potential hydrocarbon bearing areas for possible future leasing. Of special interest are Alaska's interior basins, notably the Holitna, Minchumina, Yukon Flats, and Kandik basins.

INTERNATIONAL BRIEFS

Mar 18, 1991 VEBA OIL and Petroleos de Venezuela SA are negotiating a joint purchase of PCK Schwedt AG's 230,000 b/d refinery at Schwedt, Germany. Pdvsa also plans to acquire a bigger interest in Erdoel Raffinerie Neustadt GmbH's 144,000 b/d refinery at Neustadt, Germany, where Pdvsa holds a 12.5% interest in a joint venture with Veba.

CHEVRON SHIPPING ACCENTS MIDSIZE TANKERS

Mar 25, 1991 Chevron Shipping Co. expects soon to take delivery of the second crude oil tanker in a construction series focused on midsize vessels. The series took shape early in 1989, when Chevron let contract to Ishikawajima-Harima Heavy Industries Company Ltd. (IHI) of Japan for construction of four 150,000 dwt tankers at a cost of about $42 million each. By the time the John Young, first of the 150s or million barrel tankers, was delivered last summer, its value had increased to about $60 million,

GM MOUNTS PUSH FOR REFORMULATED MOTOR FUEL NOW

Mar 25, 1991 General Motors Co., which brought unleaded gasoline to the U.S. scene, wants drivers of its autos to start using reformulated motor fuel immediately. Refiners point out that reformulated gasoline has not yet been defined by the Environmental Protection Agency, and there probably will be a shortage of the fuel regardless of whether GM auto owners take the message to heart.

FINA, OTHERS PRESS EXPLORATION OF EASTERN S. LOUISIANA REGION

Mar 25, 1991 Fina Oil & Chemical Co., Dallas, is pressing development of more than 200,000 acres of surface and mineral interests in Terrebonne and Lafourche parishes in southeastern Louisiana. The company plans to drill a well this summer in Terrebonne Parish to a Miocene Robulus objective slightly shallower than the Miocene zone that produced at a well Fina completed last spring. Fina also has indications of a successful completion at a well in Bayou Chauvin field and is drilling another well in Bayou

CHEVRON SETTLES FIRE SAFETY CASE WITH OSHA

Mar 25, 1991 Chevron U.S.A. Inc., while denying any wrongdoing, has agreed to pay fines totaling $275,000 and beef up fire protection policy at all 10 of its U.S. refineries. The agreement, announced for the U.S. government by the Labor Department, settled allegations of 109 willful violations and five serious violations of federal fire safety rules at Chevron's 280,000 b/sd Richmond, Calif., refinery. The government issued the citations after an Occupational Safety and Health Administration

POLITICAL RISK HAUNTS SOVIET JOINT VENTURES

Apr 1, 1991 Political risk continues to cloud the investment climate for crude oil and natural gas joint ventures in the Soviet Union. Speakers at a Salomon Bros. Inc.-Georgetown University seminar on the energy resources of the Soviet Union and Central Europe advised against Soviet investments in the near term. But several Soviet energy and economic officials tried to encourage potential oil and gas investors.

AMOCO FINE TUNES EXPLORATION AND STRUCTURE

Apr 15, 1991 Amoco Corp. is sharpening its worldwide exploration focus and operating in the U.S. under a new organization structure designed to make the company more effective. Amoco's exploration strategy is to target spending to provide large resource additions at low costs. "We are channeling the bulk of our spending into basins we call emerging or established," H. Laurance Fuller, Amoco chairman and chief executive officer, told the Boston Society of Financial Analysts.

PIPELINING - WORLDWIDE CONSTRUCTION

Apr 15, 1991 *Designates projects listed for the first time in the Journal. AMOCO PIPELINE CO. 19 miles, 8 in. trunk line replacement in Oklahoma. (A9) 8 miles, 8 in. trunk line replacement in North Dakota. (A9) 5 miles, 4 in. and 5 miles, 8 in. gathering line replacement in Texas.(A9) 3 miles, 8 in., 10 miles, 12 in. and 1.5 miles, 26 in. trunk line replacements in Texas. (A9) *CAJON PIPELINE CO. 122 miles, 20 in line from offshore California and San Joaquin valley oil fields to the Los Angeles basin.

CONOCO ENVIRONMENTAL CAMPAIGN ADVANCES

Apr 22, 1991 Conoco Inc. is making progress in its 1 year old program of environmental initiatives. The nine point program involves goals that range from construction of double hulled tankers to recycling of all office waste (OGJ, Apr. 16, 1990, p. 89). "We knew the implementation of these initiatives would be a complex task requiring time and commitment," said Constantine S. Nicandros, Conoco president and chief executive officer, Houston.

BECHTEL: KUWAITI RESTORATION COST OVERSTATED

Apr 22, 1991 A preliminary survey of Kuwait's war damaged oil industry shows first estimates of more than $20 billion to restore facilities to prewar condition were too high. Required spending could be less than half that. However, this is a broad estimate, and the first definitive figures will come from a detailed damage survey of the production, export, and refining facilities under way by Bechtel Corp., prime contractor on Kuwait's industry restoration. The survey could take 4-8 weeks to

SHELL CLOSES HOUSTON COAL GASIFICATION PLANT

Apr 22, 1991 Shell Oil Co. has shut down its SCGP-1 coal gasification demonstration plant near Houston after meeting all its objectives. The program at the plant was jointly conducted by Shell Oil and Shell International Research, both Royal Dutch/Shell Group companies. The Electric Power Research Institute supported the project. "We set out to demonstrate the versatility, reliability, efficiency, and environmental cleanliness of the Shell process, and our 4 year program exceeded all expectations," said

WEAK DEMAND, SUPPLY GLUT CRIMPING U.S. GAS INDUSTRY

Apr 22, 1991 One of the warmest winters on record has kept the U.S. natural gas industry in doldrums. Unseasonably high temperatures during winter 1990-91 kept U.S. gas demand flat while supplies increased. Industrial gas demand already was lagging heading into last winter because of the economic recession. And the supply/demand balance worsened as gas storage use remained high while production and deliverability rose.

GAS CONSUMPTION ON THE RISE AT MICHIGAN COGENERATION PLANT

Apr 22, 1991 Midland Cogeneration Venture (MCV) has completed a little more than 1 year of operation, consuming 66 bcf of gas at its site in Midland, Mich. Placed on line in March 1990, it is the world's first conversion of a nuclear power plant to a gas fired cogeneration plant (OGJ, Apr. 2, 1990, p. 36). MCV gas usage is expected to increase to more than 70 bcf/year by 1995, said Rodney E. Boulanger, MCV president and chief executive officer. An expansion could boost fuel needs at the Midland site to

FOREIGN OPERATOR'S OIL AND GAS E&D ACTION IN THAILAND GATHERING SPEED

Apr 29, 1991 The pace of foreign operators' exploration and development campaigns in Thailand continues to pick up speed. A rapidly growing economy is spurring sharp growth in oil and gas demand in Thailand. Correspondingly, the Thai government recently embarked on an ambitious energy program that focuses on increasing oil and gas production, expanding gas utilization, and building gas supply ties with neighboring countries (OGJ, Oct. 22, 1990, p. 21).

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