Printer Friendly

CONOCO TO CONDUCT ENGINEERING STUDY IN MALAYSIA

 MELAKA, Malaysia, May 17 /PRNewswire/ -- Conoco, the energy subsidiary of DuPont and Petronas, the Malaysian state oil company, announced today that it has signed a letter of intent to conduct an engineering study which could lead to a joint venture refinery project near this Malaysian port city.
 If the eight- to ten-month long study proves the project (PSR-2) to be economically feasible, construction to add 100,000 barrel-per-day refining capacity to Petronas' existing Melaka refinery could begin as early as 1994 with refinery startup sometime in 1997.
 Gary W. Edwards, executive vice president of Conoco refining, marketing, supply & transportation, and senior vice president of DuPont, identified Malaysia's continued strong economic growth and Petronas' historical performance as being critical to Conoco's decision to move forward with the study.
 "This project provides Conoco an opportunity to achieve one of our business strategies by establishing a refining presence in Asia two years earlier than we had projected," he added. "It is an opportunity we want to fully explore."
 Nokes said a similar strategy was used by Conoco 20 years ago when the company began its now successful marketing operations in Europe.
 Conoco Thailand, a division of DuPont Thailand, is headquartered in Bangkok and has 25 employees.
 -0- 5/17/93
 /CONTACT: Carlton Adams of Conoco, Inc. 713-293-1043/
 (DD)


CO: Conoco, Inc. ST: Texas IN: OIL SU:

TS -- NY082 -- 9266 05/17/93 13:24 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:May 17, 1993
Words:232
Previous Article:BOND FUND RISK RATINGS LAUNCHED BY FITCH -- FITCH FINANCIAL WIRE --
Next Article:CONOCO BEGINS THAILAND OPERATIONS
Topics:


Related Articles
CONOCO STUDY ON WORLD AND DOMESTIC ENERGY OUTLOOK THROUGH THE END OF THE CENTURY TO BE RELEASED AT PRESS CONFERENCE, MAY 15
JACOBS ENGINEERING GROUP SELECTED BY CONOCO AND PENNZOIL PRODUCTS TO INITIATE FEASIBILITY STUDY
CONOCO INTRODUCES 'GUARANTEED GASOLINES'
CONOCO AND PETRONAS OF MALAYSIA SIGN AGREEMENTS TO CONSTRUCT REFINERY
STATOIL SIGNS LETTER OF INTENT TO JOIN CONOCO AND PETRONAS IN A JOINT VENTURE TO CONSTRUCT AND OPERATE A REFINERY IN MALAYSIA
AEP Conoco Energy Management Services Names CEO
Conoco Asia Pacific Refining and Marketing.
Duke Energy: Carol Graebner To Serve As General Counsel For Duke Energy International.
Conoco Starts Joint Venture Malaysia Retail Marketing.
Conoco Holds First Annual Meeting in Eighteen Years.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters