Printer Friendly

DIAMOND SHAMROCK MAKES ANNOUNCEMENT TO INCREASE THE COMPANY'S OWNERSHIP

 SAN ANTONIO, Jan. 10 /PRNewswire/ -- Diamond Shamrock officials today announced plans to increase the company's ownership of pipeline capacity to Albuquerque by 4,500 barrels per day (BPD).
 Senior Vice President Bob Mehall explained that the company has purchased one-half (2,500 BPD) of Texaco's interest in the Amarillo to Albuquerque pipeline. This pipeline was jointly owned by Diamond Shamrock, Phillips, and Texaco.
 In addition, the company is expanding the pipeline capacity by 2,000 BPD by adding 50-miles of 10-inch pipe. When the construction is completed in the first quarter, the total pipeline capacity will be 23,000 BPD, of which Diamond Shamrock will own 12,500 BPD.
 Mehall commented, "The added pipeline capacity will enable Diamond Shamrock to better supply our expanding requirements in the Albuquerque market." Currently there are 32 Diamond Shamrock stores in the Albuquerque area, including 17 company-owned Diamond Shamrock Corner Stores.
 Diamond Shamrock, Inc. (NYSE: DRM), headquartered in San Antonio, is a regional refiner and marketer of petroleum products. Diamond Shamrock has two Texas refineries with a throughput capacity of nearly 200,000 BPD and markets gasoline through approximately 2,000 Diamond Shamrock branded outlets in eight states.
 -0- 1/10/94
 /CONTACT: Kathy Hughes, public relations, 210-641-8846, or Bill Strain, investor relations, 210-641-8708, both of Diamond Shamrock.
 (DRM)


CO: Diamond Shamrock, Inc. ST: Texas IN: OIL SU:

MP-SP -- NY068 -- 0602 01/10/94 12:54 EST
COPYRIGHT 1994 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1994 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 10, 1994
Words:233
Previous Article:USF&G INSURANCE ANNOUNCES CHANGES IN SENIOR STAFF: DUNTON TO EVP-FIELD OPERATIONS; ANDERSON TO EVP-COMMERCIAL LINES
Next Article:MADERAS Y SINTETICOS S.A. ANNOUNCES INVESTMENT IN ARGENTINA APPROVED
Topics:

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