Friday, August 24, 2007

Chevron to develop offshore project in Canada

Newfoundland and Labrador, Canada's eastern-most province, reached an agreement with San Ramon-based Chevron Corp. and other oil companies to develop the offshore Hebron-Ben Nevis heavy- crude project.

Under the memorandum of understanding, the government will buy a 4.9 percent stake in the Hebron project for $103.6 million, provincial Premier Danny Williams said today.

Negotiations to develop Hebron, which may contain more than 700 million barrels of oil, broke off in April 2006 after Chevron and other companies failed to agree on terms with the provincial government. The talks resumed this month.


Allegiant Air will begin twice-a-week passenger service between Stockton Metropolitan Airport and Phoenix beginning Oct. 26. Allegiant, the only commercial jet airline serving San Joaquin County, currently operates five flights a week between Stockton and Las Vegas.

The announced nonstop service to Williams Gateway Airport, serving Phoenix-Mesa., will start with an introductory fare of $59 one way. Allegiant will use 130-seat MD-87 jet aircraft, slightly smaller than the 150-seat MD-80s it flies to Las Vegas five times a week Friday through Monday and Wednesday. The airport offers free parking.

Con-way Inc., the third-largest U.S. trucking company by market value based in San Mateo, said it will combine its three regional freight hauling units and centralize operations with headquarters in Ann Arbor, Mich. The units have operated with separate management and pricing for 24 years. . . . Scottrade, a leading branch-supported online investment firm, is opening a new branch office in Pleasanton. The branch, located at 6050 Johnson Drive in the Pleasanton Square Shopping Center, opens on Tuesday, Sept. 4. Scottrade's Pleasanton branch office is open Monday through Friday from 6 a.m. to 5 p.m. and can be reached at 925-467-1980