Y2K and Oil... Did the Bug Strike these Oil Companies Early?

greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread

Here's a couple of News Stories regarding Oil and possible Y2K problems.

http://www.petroleumworld.com/

Baker Hughes shrs plummet 25% on finding of acctg errors Bridge News Oklahoma City--Dec 9--1040 ET-- Shares of Baker Hughes Inc., the nation's third largest oil services firm, plunged in opening trade on the news that it has discovered various accounting issues at its Inteq business unit that will have a negative impact on financial results. At 1035 ET, Baker Hughes shares were down nearly 5 5/16, or 23.61%, at 17 3/16.

Chevron Miss. 68,000-bpd catcracker restarted after Nov snag Bridge News Toms River, N.J.--Dec 9--1245 ET-- Chevron has restarted its 68,000-bpd fluid catalytic cracking unit at its Pascagoula, Miss., refinery, industry sources said. Feed was introduced Thursday and the unit is in the process of returning to normal operations, which likely will be over the weekend.)

I did not hear what brought down the Chevron plant. This is not a very large plant though, and it may NOT have had much in the way of embedded systems. It may or may not be related to Y2K but it surely should go on one of those lists of facilities that "went down" in 1999.

The Baker Hughes accounting thing does sound more like a computer screw up. Y2K???

-- R.C. (racambab@mailcity.com), December 13, 1999


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