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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: energyplay who wrote (73929)	10/27/2006 7:25:02 AM
From: elmatador	Respond to of 206152

Iran’s refining sector calls for $16b development of the nation’s oil refining sector TEHRAN, Oct. 21 (MNA) — Some $16 billion is required to make a significant jump in the nation’s oil refining sector, Mehr News Agency reported on Saturday. The National Iranian Oil Company (NIOC) has proposed twelve plans for construction of new refineries or development of the current ones. To fulfill these objectives, total credits of $16 billion are needed. The development of Abadan Refinery, the primary designing of Arak Refinery, and the use of EPC (engineering, procurement, and construction) method for the construction of refineries are some of the measures NIOC has taken to make progress in refining projects. Privatization of some refineries is also regarded as an important move to attract investments in this sector. This would be realized through the implementation of the Article 44 of the Constitution. In addition, absorbing small capitals via the establishment of stock exchange and popular participation are some of the proposed methods ahead for the privatization of refining sector. Moreover, participation of private sector in creation of new refining capacities via buy-back plans was envisaged in the Second and Third Five-Year Development plans. Nevertheless, the objectives have not been realized because of the low-level profit markers and subsidy of the products. Curbing gasoline import is the primary purpose of the said projects. To this end, increase in production capacity, justifying subsidies, and fuel conversion plans are the most significant solutions to be implemented.

To: energyplay who wrote (73929)	10/30/2006 4:41:50 PM
From: Snowshoe	Respond to of 206152

>>Is BP the private sector's answer to FEMA ?<< Apparently so... Report: BP knew refinery was at risk Sun Oct 29, 10:13 PM ET Safety experts for BP PLC warned their bosses of the potential for a "major site incident" 2 1/2 years before an explosion at the company's Texas City refinery killed 15 people, according to a broadcast report. CBS' "60 Minutes" also reported Sunday that the Texas City plant manager, Don Parus, told his bosses in the company's London headquarters that most workers at the refinery felt the plant was unsafe. According to CBS, one worker wrote, "This place is set up for a catastrophic failure." BP's top refinery executive, John Manzoni, has said under oath he didn't know of serious safety concerns until the explosion. "They didn't do much," said Brent Coon, an attorney representing several victims suing BP. "Two months later the plant blew up." Another 170 people were injured in the explosion about 40 miles southeast of Houston. The explosion occurred when faulty sensors did not warn of gathering vapors near the isomerization unit, which boosts the level of octane in gasoline. The vapors ignited as the unit was starting up. The U.S. Chemical Safety and Hazard Investigation Board, one of several agencies investigating the blast, concluded the unit had a history of problems and was not hooked up to a flare system that burns off vapor and could have prevented or minimized the accident. Coon said he will argue in court that by failing to upgrade old equipment with flares, the company put lives at risk. Many families of victims have reached settlements, but Eva Rowe said she wants to take BP to trial so that some aspects of the case will become public. Rowe's parents, James and Linda Rowe, were killed. "To BP my parents were just a number," Rowe said in a "60 Minutes" interview. "To them, they're replaceable. To me they weren't just a number. They're somebody." Rowe's case against BP is scheduled to go to trial next week in Galveston. BP officials referred "60 Minutes" to their report on the explosion, which concluded there was "no evidence of anyone consciously or intentionally taking actions or decisions that put others at risk." The company also sent the show a letter saying, "BP accepts responsibility for the explosion and fire at the Texas City refinery. We are deeply sorry for what occurred." The chief government official investigating the explosions said the accident was preventable. "The problems that existed at BP Texas City were neither momentary nor superficial. They ran deep through that operation of a risk denial and a risk blindness that was not being addressed anywhere in the organization," said Carolyn Merritt, who was appointed by President Bush to head the U.S. Chemical Safety Board and has led an 18-month investigation into what happened at Texas City. She said that three pieces of equipment were supposed to be repaired that were not and that BP management knew about faulty equipment before authorizing the risky startup of one of the plant's units. The refinery needed upgrades when BP acquired it eight years ago but BP managers instead were told to cut their budgets, Merritt said. Those cuts resulted in the losses of key personnel and equipment, she said. "Our investigation has shown that this was a drastic mistake," Merritt said. Before the explosion, BP increased spending at the plant, but Parus said in a deposition that it was too little, too late. news.yahoo.com