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NEWS
September 17, 1986
The Senate approved an $8-billion appropriations bill that includes a Reagan Administration-backed proposal to sell the Naval Petroleum Reserves. The Senate voted for the proposal to sell the oil reserves at Elk Hills, Calif., on the grounds the sale eventually would net the government at least $2.4 billion.
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NEWS
September 15, 1988
The state's second major oil field fire in five years was extinguished as Ventura County firefighters doused a blaze north of Fillmore that had critically injured one man and caused oil-equipment damage estimated at $5 million. The fire, which started a week ago, is believed to have been caused by a spark from an electric fan used to dissipate diesel-engine fumes at the site.
BUSINESS
March 29, 1985
Bechtel Petroleum, an affiliate of the giant San Francisco construction company, has been chosen to manage the Naval Petroleum Reserve in California for almost $900 million over the next five years, the Energy Department said. Bechtel Petroleum will replace Williams Bros. Engineering Co. of Tulsa, Okla., manager of the reserve since 1975. The reserve in Kern County consists of two fields, Elk Hills, the second-largest single field in the United States, and Buena Vista.
BUSINESS
May 29, 2002 | From Bloomberg News
Sempra Energy, owner of electric and gas utilities, sued California's power-buying agency to keep it from canceling a $6.6-billion power-supply contract. Sempra said it asked a San Diego Superior Court judge to rule that "contrary to the Department of Water Resources' stated position, the company is meeting the terms of the agreement" and the agency is obligated to take delivery of and pay for wholesale power.
BUSINESS
March 25, 1987 | United Press International
The Administration plans to slow the filling of the Strategic Petroleum Reserve and to sell government-owned oil fields, an Energy Department official said Tuesday. Assistant Energy Secretary Allen Wampler, testifying at House budget hearings, said the Administration wants to cut the filling rate for the emergency reserve from the current 75,000 barrels a day to 35,000.
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