Immediately

Texaco named John E. Bethancourt president-production operationsyesterday. Bethancourt, whose appointment is effective immediately,was most recently vice president – upstream corporate development.In his new role, Bethancourt will relocate to Texaco’s CorporateCenter in White Plains, NY. After joining Texaco upon the company’sacquisition of Getty Oil in 1984, Bethancourt was appointed areamanager-South Texas in Texaco U.S.A. producing operations. In 1996he was appointed vice president of international businessdevelopment in Texaco International Marketing and Manufacturing,and was named to his most recent assignment in November 1997.

The Independent Petroleum Association of America elected BarryRussell as its new president last week, replacing Gil Thurm. Thechange was immediately effective.

The Independent Petroleum Association of America elected BarryRussell as its new president yesterday, replacing Gil Thurm. Thechange was immediately effective.

The swing trading pattern immediately following Christmas didn’tseem very much different from the days preceding the holiday: agenerally softer market, with declines of up to a dime Monday atmost points, arrayed against conspicuously higher prices fordeliveries into the New York City area. One thing that did change,however, was generally flat numbers for the Rockies and California,markets that had participated in the overall weakness last week.

Patricia K. Swanke has been named vice president, operations,for The Dayton Power and Light Co., effective immediately. Swankebegan her career at DP&L in 1990 and has held variouspositions, most recently as managing director of gas and electrictransmission and distribution operations.

Arthur L. Smith resigned as chairman and CEO of Torch EnergyAdvisors Inc. effective immediately. Smith joined the Houston-basedcompany June 1, 1998 from John S. Herold Inc. Torch PresidentKenneth E. White Jr. said the board of employee-owned Torch andSmith “concluded that their operational and strategic differenceswould best be resolved by going in separate directions.” Torchintends to focus on providing outsourcing services and capital tothe upstream oil and gas industry. Smith plans to focus his effortson personal energy investments in North America, the company said.Torch founder J.P. Bryan became senior managing director.

Tenaska Frontier Partners Ltd. and Power Team said constructionwill begin immediately on the largest non-utility electricgeneration plant in the U.S. The Tenaska Frontier GenerationStation is an 830 MW gas-fired, combined-cycle facility to beconstructed near Shiro, TX, 70 miles northwest of Houston. Theplant is expected to use about 145,000 MMBtu/d.