More Oil & Gas Transportation News

PDVSA EYES TANKER, STORAGE CAPACITY HIKES

Jan 15, 1990 Petroleos de Venezuela SA (Pdvsa), Venezuela's state oil company, plans to increase its tanker fleet and foreign oil storage capacity. Pdvsa will buy more vessels to boost its export tanker capacity enough to handle 30% of Venezuela's exports vs. the current 14%. At yearend 1988, Pdvsa had 19 tankers with total capacity of 768,000 dwt. Pdvsa did not disclose details on how many or what kind of tankers it expects to buy or how it will expand foreign oil storage capacity.

NORSK HYDRO TESTS OIL ZONE IN TROLL GAS FIELD

Jan 15, 1990 Norsk Hydro has started a 12 month production test of extensive oil reserves underlying Troll gas field in the Norwegian North Sea. The company is using the Petrojarl test ship to produce a single horizontal well drilled into a 72 ft thick oil zone under the western lobe of the giant gas field. The well, in 1,085 ft of water, is producing about 12,000 b/d. If the year-long test is successful, Norsk Hydro could have a floating oil production system operational in West Troll by 1994, 2 years

BAD POLICY BAD FOR ENVIRONMENT

Jan 15, 1990 There are right ways to make environmental policy. There are wrong ways. And there are irresponsible ways. The right ways to make environmental policy are to recognize and properly assess problems and to apply scientifically valid solutions consistent with other priorities, such as economic growth and national security. The wrong ways are to employ this framework but to err in technicalities. Environmental policymaking lapses from error to irresponsibility when it leads with retribution or

AGA: SEVERAL YEARS OF BALANCE IN STORE FOR U.S. GAS SUPPLY

Jan 15, 1990 The U.S. surplus of natural gas deliverability is gone, and several years of supply/demand balance are possible, says the American Gas Association. The surplus is disappearing because demand has been rising since 1986 and U.S. productive capacity has fallen because fewer wells are being drilled, AGA said. Estimates of the size of the surplus, which has been in existence since 1980, are extremely sensitive to assumed demand in 1990. Operators have begun to drill more gas wells because gas is

U.S. REFINERS DRAW FIRE FOR PRODUCT PRICE SPIKE

Jan 15, 1990 U.S. refiners drew the blame at a congressional hearing last week for last month's sharp increases in middle distillate and propane prices. Members of the House energy and power subcommittee were indignant about the increases and were not satisfied with explanations detailing record cold weather and refinery shutdowns. They vowed not to let the matter drop simply because prices are declining now.

WATCHING WASHINGTON HELP FOR MANUFACTURERS

Jan 15, 1990 with Patrick Crow After years of depression, the U.S. service and supply industry is beginning to get some relief from Washington. Manufacturers of oil country tubular goods got some help last month when the U.S. Trade Representative's office negotiated an agreement with major steel exporting countries. USTR claimed the agreement marks the first time the exporting countries have agreed to remove government subsidies and incentives that helped their firms export steel.

LONG, HEAVY VESSELS MAKE ITALY-U.S. VOYAGE

Jan 15, 1990 An extremely long, heavy splitter column made a journey to Houston from Italy late last year. M.W. Kellogg Co. let a contract to Jumbo Navigation NY, Geneva, Switzerland, to transport the vessels to a Quantum Chemical Corp. petrochemical plant at Deer Park, Tex. The transport involved three columns, the largest a 748 metric ton splitter column 297 ft long. The columns were fabricated at Porto Marghera, Italy. Two of the columns were 66 m long and 6 m in diameter and weighed 497 metric tons and

SPANISH DOWNSTREAM INDUSTRY EXPANDING

Jan 15, 1990 Spain continues to attract a considerable amount of spending in refining and petrochemicals. State owned Repsol SA and E. I. Du Pont de Nemours & Co. are studying construction of two major petrochemical plants with a combined value of about $2 billion. Work has started on two other plants, and plans have been disclosed for still two more units.

IRAN TO BUILD NEW REFINERY AT ARAK

Jan 15, 1990 The National Iranian Oil Co. has announced that it let a contract in April 1989 for the construction of a grassroots, 150,000-b/d refinery to be sited some 200 miles southwest of Tehran near a pipeline at Arak, Iran, according to the Iranian Ministry of Petroleum. Startup of the refinery is scheduled for early 1993. The contract for the refinery was awarded to a joint venture comprising JGC Corp., Tokyo, and Tecnologie Progetti Lavori SpA (formerly Technipetrol SpA), Rome. The contract price

U.S. BRIEFS

Jan 15, 1990 MONTEDISON USA INC. completed its acquisition of Himont Inc. for about $605 million and plans to complete a merger of Himont into Montedison as an indirect wholly owned subsidiary later this month. OXFORD ENERGY CO., Santa Rosa, Calif., let a $70 million contract to a unit of Zurn Industries Inc., Erie, Pa., for a 288 ton/day, 30,000 kw waste tire to energy plant to dispose of about 23,000 tires/day at Sterling, Conn. It will be the world's largest electrical power plant fueled solely by

SOVIET BARENTS SEA FIELD'S RESERVES SIZABLE

Jan 15, 1990 The cost to develop a large gas field in Soviet waters of the Barents Sea may be about $5 billion, says a member of a group of companies preparing to conduct a feasibility study. Survey work indicates that the Shtockmanovskoye field area contains reserves of about 106 tcf of natural gas, says Neste Oy of Finland. Reserves of that size would make the field smaller than the largest known western Siberian natural gas fields. The field is in about 984 ft of water in the mostly ice free western

OGJ NEWSLETTER

Jan 15, 1990 Oil and product prices seesawed in early January. Concerns about low U.S. gasoline inventories and much warmer January weather after a bitterly cold December led to several days of sharp gains and declines. WTI futures in the U.S. for February delivery closed Jan. 10 at $22.90/bbl, down 780 from the recent high of $23.68/bbl Jan. 3. The closing price fell as low as $21.62/bbl earlier last week. Unleaded gasoline futures for February delivery dipped to about 61/gal Jan. 8 from more than 67/gal

AUSTRALIA'S OTWAY BASIN OFFERS ON AND OFFSHORE POTENTIAL

Jan 15, 1990 John C. McCaslin Exploration Editor Exploration in the Otway basin of southern Australia is at a moderately mature stage, according to S. Laing, C.N. Dee, and P.W. Best of the Claremont Group of Companies in Sydney.

DOE TO MAP NEW POLICY ON RESEARCH

Jan 15, 1990 The Department of Energy has scheduled a Jan. 31 meeting in Washington, D.C., to chart a new course for the U.S. government's oil and gas research programs. DOE's policy at present is to provide funds only for high risk oil and gas research in the 10-20 year time frame - research it said companies don't perform. Now DOE is considering funding shorter term research to help oil and gas producers in the next 1-5 years. Deputy Sec. Henson Moore said, "Our best hope for stemming the

WYCAL TO START LAYING PIPE LATE THIS YEAR

Jan 15, 1990 Coastal Corp.'s Wyoming-California Pipeline Co. (WyCal) plans to begin laying pipe late this year on its 30 in. gas pipeline from Wyoming to California. The pipeline is the first major interstate project among those proposed to serve the California market to proceed with construction. WyCal last week said it has received firm, long term, transportation commitments for enough gas to proceed with construction of the $665 million, 1,000 mile project (see map, OGJ, Oct. 16, 1989, p. 36).
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