Path: bloom-picayune.mit.edu!snorkelwacker.mit.edu!news.media.mit.edu!americast.com!americast.com!usa-post Newsgroups: usa-today.energy From: usa-post@AmeriCast.Com Organization: American Cybercasting Approved: usa-post@AmeriCast.com Subject: energy Tue, Jul 21 1992 Date: Tue, 21 Jul 92 06:06:53 EDT Message-ID: 07-21 0000 DECISIONLINE: Energy USA TODAY Update July 21, 1992 Source: USA TODAY:Gannett National Information Network SPECULATION PUSHES OIL HIGHER: Oil prices rose Monday, strengthened by U.N.-Iraqi tensions that intensified speculation of a military move against Saddam Hussein. The August-delivery price of benchmark light sweet oil settled at $21.79 a barrel on the New York Mercantile Exchange, up 21 cents from the Friday close. Refined products traded on the exchange also rose. REFINED PRODUCTS SETTLE HIGHER: Among refined products, wholesale unleaded regular gasoline for August delivery settled at 60.17 cents a gallon, up .34 cent on the New York Mercantile Exchange. Home heating oil for August delivery settled at 60.60 cents a gallon, up .71 cent. Natural gas for August delivery settled at $1.749 per 1,000 cubic feet, up .35 cent. EPA CITES N.Y. GAS STATIONS: The Environmental Protection Agency has cited gas stations in New York City for storage tank violations. Federal underground storage tank requirements were developed to prevent tank and piping leaks. If those requirements are not met, petroleum products can be released, causing safety and contamination problems, the EPA said Monday. (For more, see special EPA package below.) GM UNVEILS CAR RECHARGER: A new charging system for electric cars is as easy to use as a regular gasoline pump and reduces charging time, says the General Motors subsidiary that unveiled it Monday. GM Hughes Electronics' system uses a lightweight, plastic-covered paddle that is inserted into a slot on the car, rather than a heavy plug. The paddle transfers electricity through a magnetic field rather than metal. NUCLEAR TALKS BEGIN IN D.C.: Six Russian and Ukrainian nuclear regulatory officials have begun three days of talks in Washington aimed at avoiding another Chernobyl-style accident. The meeting with Energy Department and Nuclear Regulatory Commission officials was the first under a $25 million bilateral aid program to assist Russia and Ukraine with nuclear efforts. TANKER ROLLOVERS NOT PREVENTED: Federal safety experts say that U.S. truck safety regulations aren't tough enough to keep tankers from exploding or spilling hazardous chemicals in accidents in which the trucks turn over. Many tanker trucks have valves, hatches and other fittings that fail in rollover accidents, according to officials with the National Transportation Safety Board. HARKEN TO DRILL SECOND WELL: Harken Energy Corporation of Dallas Monday announced that its second exploratory well to be drilled offshore near Bahrain will be in the Muharraq Island area northeast of Manama. The second well will test the Jurassic Arab formation at 9,000 feet. Harken said it plans to start the second well as soon as it concludes a drilling contract with a regional contractor. MEXICAN PLANT GAINS INTEREST: A unit of Transco Energy Co. and Duke Energy Corp. will pursue development of a proposed power plant in Mexico, Transco announced Monday. Transco earlier this year bid for the 700-megawatt, gas-fired Samalayuca project in Ciudad Juarez. If Transco gets the bid, Duke Energy will acquire a 50% interest. Duke is an affiliate of Duke Power Co. The bid likely will be chosen by late summer. BP IN DEVELOPMENT DEAL: The British Petroleum Co. Plc has signed an agreement with eight other oil companies for development of North Sea oil and gas fields. The agreement calls for the investigation of integrated development of four major oil and gas fields. BP said Monday that the $2.67 million study includes 650 million barrels of reserves, of which BP is the major owner. SATELLITE DISCOVERIES INCLUDED: A study by BP and eight other oil companies will look at three oil and gas fields operated by BP and one operated by Shell Esso. The study of the fields also will include satellite discoveries. BP is the major shareholder and is operating the study on behalf of Royal Dutch:Shell Group, Esso, Agip, Hamilton Oil Corp., Murphy:Ocean, Lasmo Plc, Petrofina SA and Monument Oil & Gas Plc. SPECIAL PACKAGE ON EPA: ORDERS ARE FOR TANK VIOLATIONS: The Environmental Protection Agency Monday issued two major complaints and compliance orders to corporations operating gas stations in New York City. The EPA was working with the state Department of Environmental Conservation to issue the orders for violations of federal underground storage tank system leak detection, closure and notification regulations. SPILL PROGRAM PROBING RELEASES: In addition to the EPA issuing orders against the corporations operating the gas stations, the New York State spill program is investigating some instances of releases and contamination that already have been discovered. Leaking underground storage tanks can cause fires or explosions. INITIATIVE STARTED IN MARCH: The complaints against Gaseteria Oil Corporation of Brooklyn and Northland Marketing Corporation are part of an underground storage tank enforcement initiative begun in March. Gaseteria operates 71 retail gasoline stations in the New York City area. Northern operates 49 stations. Penalties for Gaseteria total $5.6 million; for Northern, $4.56 million. (End of package.) Energy Editor: Beth Mann. (1-919-855-3491) Making copies of USA TODAY Update (Copyright, 1992) for further distribution violates federal law. This article is copyright 1992 Gannett News Service. 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