ENERGY

Arco Announces Gas Project in China: Atlantic Richfield Co. announced the start-up of China’s largest offshore energy project, the Yacheng 13-1 natural gas field, in ceremonies today in Beijing attended by former President Bush, Chinese President Jiang Zemin and Premier Li Peng. The $1.13-billion project will produce about 280 million cubic feet of natural gas per day, most which will go to generate electric power in Hong Kong. The project is a joint venture of Los Angeles-based Arco, the China National Offshore Oil Corp. and Kuwait Foreign Petroleum Exploration Co., with Arco as the project operator.