American International Petroleum Commences Asphalt Operations at its Louisiana Refinery.NEW YORK--(BUSINESS WIRE)--Nov. 5, 1997-- First Shipment of Bulk Asphalt Received November 4, 1997 American International Petroleum Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : AIPN AIPN Association of International Petroleum Negotiators AIPN Australian Injury Prevention Network AIPN Advanced Industrial Property Network (Japanese Patent Office) AIPN Asian Industrial Property Network ), today announced that it has implemented asphalt operations at its 30,000 barrels per day Barrels per day (abbreviated BPD, bbl/d, bpd, bd or b/d) is a measurement used to describe the amount of crude oil (measured in barrels) produced or consumed by an entity in one day. Lake Charles Lake Charles, city (1990 pop. 70,580), seat of Calcasieu parish, SW La.; inc. 1867. It is located on Lake Charles at the mouth of the Calcasieu River in a rice, timber, oil, and natural gas region. , LA refinery and will begin marketing polymerized asphalt as well as conventional paving grade asphalt. The company said it received its first shipment of bulk asphalt on Nov. 4, 1997 which will be blended, polymerized, and marketed in Louisiana and East Texas. The company also said that the refinery will be ready to manufacture asphalt by mid-December. Immediately thereafter the company plans to start an initial run to process between 100,000 to 200,000 barrels of low-gravity, high-sulfur crude oil. With the onset of the asphalt season during the latter part of the first quarter of 1998, the company intends to commence processing at the rate of 10,000 barrels/day and will increase such rate as marketing conditions warrant. The above statements are forward-looking, and are based on estimates and current expectations. They involve certain risks and uncertainties detailed from time to time in the company's SEC reports. Actual results may differ materially. American International Petroleum Corp. is engaged in oil and natural gas exploration in Kazakstan and refining in Louisiana. CONTACT: Millennium Holdings Group Inc., Boca Raton Boca Raton (bō`kə rətōn`), city (1990 pop. 61,492), Palm Beach co., SE Fla., on the Atlantic; inc. 1925. Boca Raton is a popular resort and retirement community that experienced significant industrial development in the 1970s and 80s. , FL Investor Relations Investor relations The process by which the corporation communicates with its investors. , 561/988-2334 http://www.millenniumholdings.com |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion