Tulsa World: FYI: Business

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FYI: Business

By Staff and Wire Reports
Published: 6/4/2009 2:28 AM
Last Modified: 6/4/2009 5:40 AM

ConocoPhillips plant delayed, Saudis say

Saudi Aramco has delayed the startup of three refineries it plans to build in partnerships with ConocoPhillips, Total SA and Dow Chemical Co. as it looks to lower costs and seeks loans.

"We believe the delay will benefit the projects because we would like to get lower prices on these packages as well as give the market time to provide debts as well," said Abdulaziz al- Judaimi, vice president for new business development at Saudi Aramco.

Aramco's venture with ConocoPhillips, a 400,000-barrel-a-day refinery in Yanbu on the Red Sea Coast, will begin operating in late 2014, al-Judaimi said. That's about one year later than a target stated earlier by the parties.

Aramco's venture with Total in Jubail will start operations in late 2013.

Aramco's venture with Dow Chemical for a joint refinery and petrochemical complex is scheduled for 2015.

AT&T expands business offerings

AT&T Inc. has begun offering bundled telecommunications services on a single bill to small business owners, company executives said Wednesday.

The Dallas-based company's "All for Less" bundle includes 450 minutes per month of wireless phone service; High Speed Internet Business Edition at variable speeds; and Landline Voice, unlimited local and domestic long-distance telephone service, including Call Forwarding and Caller ID.

Prices for the "All for Less" bundle start at less than $100, company officials said.

DirecTV CEO departs for job at News Corp.

The chief executive of DirecTV Group Inc. is leaving the company to rejoin News Corp. as Rupert Murdoch's second in command.

News Corp. says Chase Carey will become deputy chairman, president and chief operating officer of the New York-based media conglomerate July 1 when Peter Chernin steps down from the job.

Carey, 55, will be based in New York and oversee the company's global operations.

He spent 15 years as a senior executive at News Corp. before heading to DirecTV.

DirecTV, the nation's largest satellite TV provider, says Larry Hunter will serve as interim CEO as the El Segundo, Calif.-based company looks for a successor.

Appeals court takes Chrysler-Fiat case

A federal appeals court in New York has halted Chrysler's sale of the bulk of its assets to Italy's Fiat pending an appeal by a trio of Indiana state pension and construction funds.

The U.S. Court of Appeals for the Second Circuit said late Tuesday it will hear arguments in the case Friday afternoon, according to the Indiana treasurer's office.

Chrysler LLC had hoped to close the sale by the end of week, pending regulatory approval.

Chrysler has maintained that the deal with Fiat Group SpA is its only hope of avoiding selling itself off piece by piece. If the sale doesn't close by June 15, Fiat has the option of pulling out of the deal.

Mexico grounds airline, saying planes unsafe

Mexico has temporarily grounded Aviacsa airline after officials reported irregularities in the maintenance of 25 planes.

The Transportation and Communications Department said the low-cost airline has 60 days to fix the problems.

The action Tuesday effectively shut operations at the airline, which says it has a fleet of 26 planes serving 17 Mexican cities and Las Vegas.

Aviacsa issued a statement denying any safety problems.

Haydee Cordova, Aviacsa's assistant director for legal affairs, said Wednesday the problems were cosmetic — opaque logos, dull lights and scratches on the wings — and that they had already been corrected on five of the planes.

By Staff and Wire Reports

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