WESTMORELAND TO SHUT
MINE, CUT JOBS IN VA.
PHILADELPHIA - Westmoreland Coal Co., a major producer, said Tuesday that it will close its Holton Low Splint Mine in Virginia and expects to cut staff at other Virginia plants as well.
The Holton mine has 25 employees.
The Philadelphia-based company said that under its tentative plans, it could retain a reduced work force to continue operating some facilities.
Westmoreland, which filed a prepackaged Chapter 11 bankruptcy plan in November, also operates mines in Kentucky, West Virginia and Montana.
CHINESE GAS PROJECTS
TO GET A DUTCH TOUCH
GUANGZHOU, China - China and the Netherlands will join in building gas projects in the southern Pearl River Delta under an agreement Monday between Guangdong Guowei (Holdings) group, Union Chase (Netherlands) BV and Escher Holland BV.
Guangzhou Guowei Piping LPG Development Co., an affiliate of Guangdong Guowei, will borrow US$30 million from the two Dutch companies for construction of two liquefied petroleum gas stations in Guangzhou.
Guangdong Guowei and Union Chase signed a memorandum on cooperation in building a unified natural gas supply network in the delta, linking nine cities including Guangzhou, Shenzhen and Zhuhai.
DECLINE IN GERMANY
HAMBURG, Germany - German green coffee imports in February totaled 886.155 million 60-kilogram bags, bringing the total of the first two months to 1,738,815 bags, according to the German Coffee Association (DKV).
This compares with 1,913,934 bags during the same period last year, it said.
Coffee imports reflect the amount of coffee entering the country via the main ports. They do not reflect consumption.
Of total imports in February from more than 26 countries, the largest supplier was Colombia with 281,673 bags, followed by Brazil with 58,479 bags, El Salvador with 56,459 bags, Vietnam with 53,780 bags, DKV's statistics show.
MCMORAN, PHILLIPS INK
OIL, GAS AGREEMENT
NEW ORLEANS - McMoRan Oil & Gas Co. said Tuesday it signed a joint oil and natural-gas exploration agreement with Phillips Petroleum Co. covering a project area of 35,000 acres in south Terrebonne Parish, La.
McMoRan said it has identified two high potential prospects, North Bay Junop and East Fiddler's Lake, within the area and is acquiring seismic survey data that will be available in the third quarter.
It said that exploration drilling could start early next year.
McMoran Oil & Gas's stock was off 12.5 cents, to $3.375 on the Nasdaq market.
UNDER WAY IN CHINA
URUMQI, China - Officials said Tuesday a 72,000-ton alkylbenzene project is under construction in Dushanzi in Xinjiang, backed by the regional government, China Oil & Natural Gas Corp. and Worldwide Perspectives Inc. of the United States.
Total investment will amount to 1.37 billion yuan ($165 million), including $78.89 million of foreign funds.
The project will use kerosene and benzene as raw materials to produce detergents widely used in manufacturing, agriculture, light and textile industries, dyeing and printing, medicine, papermaking and other fields.
FALLS 38.5 PERCENT IN SPAIN
MADRID, Spain - Production of hydroelectricity fell 38.5 percent year on year during the first 11 days of June amid a continuing drought here and was down 17.0 percent from Jan. 1 to June 11 vs. the year-earlier period, electricity producer association Unesa said Tuesday.
Nuclear output rose 19.7 percent year on year in the first 11 days of June, it said.
Demand for electricity rose 4.4 percent year on year in the period Jan. 1 through June 11 to total 67.888 million kilowatt hours.
Electricity production by Spanish utilities in the same period totaled 65.103 million kilowatt hours, up 1.4 percent year on year.
Some of the demand was met by outside suppliers.