China Petrolium Problem : LUSENET : TimeBomb 2000 (Y2000) : One Thread

I enjoy your forum. Excuse the choppiness of my post.

Y2K Today

+-----------------------------------------------------------------------+---------+ | China National Petroleum Official Predicts 'Disasters' from Y2K Bug | 1/11/99 | +-----------------------------------------------------------------------+---------+ | Author: Associated Press | +-----------------------------------------------------------------------+---------+ | SINGAPORE (AP) _ "Disasters'' will befall the refining facilities of one of China's key petroleum operators when the millennium bug strikes, said a senior official from the company on Monday. | | The Year 2000 glitch "will lead to unimaginable results'' for China National Petroleum Corp., the official was quoted as saying by Dow Jones Newswires, speaking on condition of anonymity in a telephone interview from Beijing. He did not elaborate. | | With 46 percent of China's total crude refining capacity, the oil exploration and production company is one of 18 state-owned enterprises recently told by China's State Council to immediately address the millennium bug. | | | The problem hits at Year 2000 when computer systems fail to recognize the correct century. | | The glitch will affect the operation of 48 of the company's 50 kinds of computer-based refining facilities and equipment, said the official. Once affected, the refining units will be out of control, he added. | | | Last month, China National Petroleum held an emergency meeting to urge its subsidiary refiners to solve the problem before September 1999, according to the official. | | He noted that the company has also sought assistance from overseas suppliers of the computer-based equipment. | | China Petroleum News reported Saturday that the software defect will affect about 30 percent of China National Petroleum's 24,118 computer-based geological sensors and other equipment used in crude production and refining. | +-----------------------------------------------------------------------+---------+ | URL for this article: | | | | | +-----------------------------------------------------------------------+---------+ | Email us at | | | Copyright (c) 1998 Infrastructure Defense, Inc. All Rights Reserved. | | +-----------------------------------------------------------------------+---------+

-- truthseeker (, January 11, 1999


Are there any websites or any other related articles addressing the North American Petroleum Industry?

-- Dan Cote (, January 11, 1999.


Have you taken a look at Chevron's November 6, 1998 SEC 10-Q filing?

Here are two quotes from it:

"Because of the scope of Chevron's operations, the Company believes it is impractical to seek to eliminate all potential Year 2000 problems before they arise. As a result, Chevron expects that its Year 2000 assessment and corrections will include ongoing remedial effort into the year 2000."


"The total cost to achieve Year 2000 compliance is currently estimated at $200 to $300 million, not all of which is incremental to the company's operations. Expenditures will be incurred primarily in 1998 and 1999, with substantially all costs to be recorded as expense. Approximately $40 million has been spent to date."

-- Kevin (, January 11, 1999.

Dan, Try the American Petroleum Institute. I believe it's

-- Morgan (, January 12, 1999.

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