They come out like sporting event "boo birds" when the home team falters. Oil and gas prices jump, and governors and attorneys general of some consuming states call news conferences, shake their fists, and demand investigations of the petroleum industry. It's their prerogative. They are government officials. But when prices rise for reasons apparent to anyone, the bluster looks absurd.

They come out like sporting event "boo birds" when the home team falters. Oil and gas prices jump, and governors and attorneys general of some consuming states call news conferences, shake their fists, and demand investigations of the petroleum industry. It's their prerogative. They are government officials. But when prices rise for reasons apparent to anyone, the bluster looks absurd.

Exxon Chemical Co. is pressing its petrochemical expansion program in Europe. The company confirmed plans for expansion of its Notre-Dame-de-Gravenchon, France, steam cracker to 400,000 metric tons/year from 315,000 tons/year. Propylene capacity at the complex will rise by 50,000 tons/year to 270,000 tons/year. The company also plans to build a 140,000 ton/year polypropylene plant at the complex using feedstock from the cracker. Total spending at the site will be about $200 million.

Norske Shell will recommend to partners that Troll gas field in the Norwegian North Sea be developed using multiphase flow pipelines and onshore processing instead of a large integrated drilling and production platform. A study of the two systems showed costs are very similar. But greater safety of onshore processing swung Shell in favor of multiphase flow pipelines with onshore gas processing.

Norske Shell will recommend to partners that Troll gas field in the Norwegian North Sea be developed using multiphase flow pipelines and onshore processing instead of a large integrated drilling and production platform. A study of the two systems showed costs are very similar. But greater safety of onshore processing swung Shell in favor of multiphase flow pipelines with onshore gas processing.

U.S. deepfreeze sparks rise in gas demand that sends median spot price to an average $2.34/MMBTU, highest monthly average since July 1985. Product prices also jump. Refiners bringing plants back in operation after shutdowns. Average U.S. natural gas spot prices for January shot to their highest level since July 1985 because of heavy demand brought on by record cold weather throughout much of the U.S. late last month. Rising oil product prices brought demands for investigations as temperatures

U.S. deepfreeze sparks rise in gas demand that sends median spot price to an average $2.34/MMBTU, highest monthly average since July 1985. Product prices also jump. Refiners bringing plants back in operation after shutdowns. Average U.S. natural gas spot prices for January shot to their highest level since July 1985 because of heavy demand brought on by record cold weather throughout much of the U.S. late last month. Rising oil product prices brought demands for investigations as temperatures

The world's first conversion of a nuclear power plant to a gas fired cogeneration plant will start commercial operations in the first quarter. Midland Cogeneration Venture (MCV) is a limited partnership led by a unit of CMS Energy Corp. to convert the former Midland, Mich., nuclear plant to a gas fired, combined cycle cogeneration plant (OGJ, June 20, 1988, p. 26). At first it will burn about 167 MMcfd of gas to produce 1.37 million kw of electricity and 1.35 million lb/hr of process steam.

Amos A. Avidan, Michael Edwards Mobil Research & Development Corp. Paulsboro, N.J. Hartley Owen Mobil Research & Development Corp. Princeton, N.J. Advances in catalytic cracking led to the invention of a new unit operation-fluidization of fine powders-nearly 50 years ago. Fluid catalytic cracking (FCC) is still the major use of fluidization, and it is the focus of most fluidization research in industry.

John R. Schuyler Consultant Aurora, Colo. Making profitable acquisitions in a competitive environment is difficult. This is because the winning bidders often pay more than the property is worth. This paper shows how to measure the important impacts of different valuation and bidding strategies: improving engineering estimates, adjusting bid fractions, and modifying reserve category risk adjustments. A less complex model is used to optimize the bid for a single acquisition.