Amer Intl Pete To Make Asphalt At La. Refinery
NEW YORK (Dow Jones)--American International Petroleum Corp. (AIPN) will make polymerized and paving grade asphalt at its Lake Charles, La. refinery.
In a press release Wednesday, the company said the refinery will be ready to produce asphalt by mid-December, beginning an initial run to process between 100,000 and 200,000 barrels of low-gravity, high sulphur crude oil.
In the first quarter of 1998, the company plans to process 10,000 barrels of oil a day, increasing the rate as market conditions warrants.
On Nov. 4, the refinery received its first shipment of bulk asphalt, which it will blend, polymerize and market in Louisiana and eastern Texas, the company said.
American International explores for oil and natural gas in Kazakstan and refines in Louisiana.
"Dow Jones News Service"
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