April, 2002
NEWS BRIEFS
Giant's Refinery Acquisition
"Giant industries 's refinery deal, which is expected to
close in the second quarter, also includes potential payments up to
$25 million if certain refining margin levels re met during
2003-05. The refinery -- Virginia's only one -- has a crude
oil processing capacity of 62,000 b/d. The product slate is
50% gasoline, 33% distillates and 15% other products. Giant
Industries Chairman and CEO Jim Acridge said, 'This purchase more
than doubles our refining capacity, bringing this total to
approaching 100,000 b/d.' He said the refinery is
well-positioned to deliver product to many terminals on short notice
to accommodate unexpected shortages and is capable of exchanging
products to and from the Gulf Coast and New York Harbor. Giant
operates the 26,000 b/d Ciniza refinery 17 miles from Gallop, NM,
and the 18,600 b/d Bloomfield refinery near Farmington, NM,
The company also has 260 mile crude oil gathering pipeline system
based in Farmington, NM, and products distribution terminals in
Albuquerque, NM, and Flagstaff, AZ." From Oil and Gas
Journal, Week of Mar.4, 2002 p. 32
Independents Projects, More Proposals Sought
The Department of Energy is currently seeking proposals from
small independents. DOE anticipates making 12 to 15 awards (maximum
amount of $75,000 with minimum of 50% cost share). There will be
three evaluation periods-June 13, September 26 and January 9, 2003. For
more information visit http://www.netl.doe.gov/business/solicit/index.html
Nominations
for DOE's Homer Lowry Award
In 1985 the U.S. Department of Energy (DOE) established the Lowry
Award to recognize a living citizen of the U.S. whose scientific or
technological achievements have advanced the understanding and use
of fossil fuels. It consists of a citation, a gold medal and a
$25,000 cash award. Among others, prior recipients include Dr.
William Brigham of Stanford University and Dr. Henry Linden, former
president of the Gas Research Institute.
The last award was made in 1995. DOE decided to resume the award
to elevate energy awareness within the industry and general public.
Nominations are being sought through May 20. For more
information go to http://www.netl.doe.gov/publications/press/2002/tl_lowry_2002nominations.html .
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