Blue Dolphin Announces Equilon Enterprises Joins Deepwater Port Project.HOUSTON--(BUSINESS WIRE)--Oct. 12, 1999-- Blue Dolphin Blue Dolphin may refer to:
LLC - Logical Link Control ("Equilon") have agreed to jointly continue development of the Petroport deepwater port project. Development efforts will focus on optimizing the facility design configuration, the phasing-in of facility operations and determining the expected level of market support. It is expected that a decision to proceed with obtaining the requisite license and permits for the port facilities will be made within 60 days. The proposed Petroport deepwater port will provide the major Texas Gulf Coast and Mid-Continent refining centers with a safe, environmentally preferred, efficient and cost effective means of receiving large volumes of imported crude oil, and crude oil production from deepwater fields on the U.S. Outer Continental Shelf In the federal United States, the Outer Continental Shelf (OCS) consists of the submerged lands, subsoil, and seabed, lying between the seaward extent of the States' jurisdiction and the seaward extent of Federal jurisdiction. . The Petroport offshore terminal will be located in the western Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east off the Texas Coast. Its main oil pipeline, linking the offshore terminal to shore, would access the existing onshore distribution network serving the greater Houston Houston–Sugar Land–Baytown is a 10-county metropolitan area defined by the Office of Management and Budget. It is located along the Gulf Coast region in the U.S. state of Texas. , Texas, area refineries and the NYMEX See New York Mercantile Exchange. NYMEX See New York Mercantile Exchange (NYM). crude oil futures settlement hub at Cushing, Oklahoma. Michael Jacobson, President of Blue Dolphin, said: "The joint development effort with Equilon, the Shell and Texaco alliance, represented a major milestone for the Petroport project. Participation in development of the port project by a major industry participant such as Equilon, confirms our belief in the need and potential of a Deepwater Port in the western Gulf of Mexico." Forward-looking statements contained in this release are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that all forward-looking statements involve assumptions that, although believed to be reasonable at this date, are subject to uncertainties which may cause actual results to differ from anticipated results. Equilon Enterprises LLC is a Houston-based joint venture company combining the major elements of Shell's and Texaco's western and midwestern U.S. refining and marketing businesses and their nationwide transportation and lubricants businesses. Blue Dolphin Energy Company is engaged in the gathering and transportation of natural gas and condensate, exploration and acquisition of oil and gas properties, and development of an offshore terminal to handle crude oil and refined products. Questions should be directed to Michael Jacobson, President, at the Company's offices in Houston, Texas, 713/227-7660. For further information see our home page at http://www.blue-dolphin.com. |
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