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Phillips completes ARCO Alaska purchase
ANCHORAGE -- With the closing of a deal for pipeline interests and marine assets, Phillips Petroleum has completed its $6.5 billion purchase of the Atlantic Richfield Co.'s properties in Alaska, company officials announced today.
The $965 million deal adds to the company's April purchase of Arco's exploration and production assets in Alaska.
This week's deal included the purchase of a 22.3 percent interest in the Trans Alaska Pipeline System, interests in other pipelines and three double-hulled tankers being constructed. Phillips paid $700 million in cash and assumed $265 million in debt for the most recent acquisition.
Jim Mulva, Phillips' chief executive officer, said the acquisition has doubled the company's worldwide reserves and significantly increased its daily crude oil production. Phillips is a Bartlesville, Okla.,-based petroleum company engaged in oil and gas exploration, gathering, processing and marketing.
Coast Guard detains Latvian freighter
ANCHORAGE -- The Coast Guard has detained a Latvian freighter for numerous safety violations.
The Coast Guard found the problems Monday during a port inspection at Dutch Harbor. Inspectors found numerous problems aboard the Andra, including fire hoses that failed pressure tests, an escape ladder that was too short to reach the water line, and fuel leaks in the engine room bilges, the Coast Guard said.
The ship was detained as it headed to Dutch Harbor to purchase processed fish for sale to markets in Eastern Asia.
The owner of the vessel, Sea Metropolitan S.A., of Riga, has been notified that the ship was detained. The Coast Guard said the problems will have to be fixed before the Andra is allowed to leave port.
Grounding leads to beating
JUNEAU -- A boat's accidentally running aground Wednesday sent a Ketchikan man to the hospital.
The owner of the Tamura, Thomas Moore, 32, went ashore at Carroll Inlet, six miles southeast of Ketchikan, to do some hunting. He left Jim Weems, 48, aboard. Weems accidentally ran the Tamura aground, and Moore was so irate that he assaulted him to the extent that he required evacuation by the Coast Guard to Ketchikan General Hospital, said Petty Officer Roger Wetherell.
The Coast Guard was called just before 8 p.m. Wednesday by a concerned citizen witnessing the incident from the shore. ``I guess (Weems) got beat pretty badly,'' Wetherell said.
Weems suffered a lacerated right ear as well as injuries to his chest and ribs. He complained of kidney pain and breathing difficulties and had to be given oxygen, Wetherell said.
However, Weems refused to press charges. ``But he does plan to help Moore get his boat once he gets out of the hospital,'' Wetherell said.