Oil Giants To Offer Marine Fuels Site

January 20, 2000

BP Amoco Plc., Royal Dutch/Shell, Texaco Inc., and Chevron Corp. are developing an Internet site allowing energy companies to buy and sell fuel for ships. The companies said the site (www.OceanConnect.com) would be up and running by the second quarter of this year, marking the latest in a series of projects by energy companies aiming to jump into e-commerce.In the past week Shell, Chevron, and Norway's state-run Statoil have all unveiled separate Internet ventures in an effort to save costs. OceanConnect.com will provide users with up-to-the-minute market and weather information and feature an auction site and e-mail-enabled transactions for purchase and sale of marine fuels and services, the company said. The companies -- BP Marine, Fuel and Marine Marketing LLC, and Shell Marine Products -- said that they would look for additional partners for the venture. BP Marine is a wholly owned subsidiary of BP Amoco, Shell Marine Products is a wholly owned subsidiary of Royal Dutch/Shell, and Fuel and Marine Marketing is a joint venture between Texaco and Chevron.

Oil Giants To Offer Marine Fuels Site

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