General Interest 2000 P

11/01/2000 -- Texas ruling a victory for potential electricity competitors
Texas electricity ratepayers could get a credit instead of extra charges on their transmission and distribution bills when competition begins in 2002, under a Wednesday ruling by the Public Utility Commission of Texas. Vanus Priestley, Texas business leader NewEnergy, said the decision goes a long way in eliminating the rate distorting effect of excessive mitigation of stranded costs.
11/01/2000 -- FERC refund proposal worries California energy merchants
Large energy merchants that own generation in California reacted positively to the Federal Energy Regulatory Commission proposed order today that would restructure the California power markets. Pleased that after a painstaking 3-month examination of the power markets, no market abuse by suppliers was found in California, suppliers agreed with FERC that changes in the California Power Exchange and the California Independent System Operator�s markets are warranted.
11/01/2000 -- Canadian ExxonMobil units enter cooperation agreements
Imperial Oil Ltd. and Mobil Oil Canada Ltd., Calgary agreed to share common business and operational support services and to jointly pursue new exploration opportunities in Canada, Imperial said Wednesday. Through those agreements, the companies expect to realize combined annual savings of about $40 million.
11/01/2000 -- No California market abuses, FERC concludes
At a meeting today of the Federal Energy Regulatory Commission, the staff concluded it found no evidence of electricity market power abuses in California, even though prices were �unjust and unreasonable.� But the commission in its proposed order to address problems in wholesale electricity markets in California stopped short of ordering refunds to consumers for legal reasons. FERC Chairman John Hoecker said the commission did conclude the California market was flawed structurally.
11/01/2000 -- EuroGas, Teton Petroleum extend merger talks
EuroGas Inc., London, and US-based Teton Petroleum Co. agreed to extend their merger discussions through Dec. 31, beyond the Nov. 1 deadline previously established in an August standstill agreement.
11/01/2000 -- Petrobras eyes satellite technology to detect oil spills
Petroleo Brasileiro SA is considering a new oil spill monitoring system for Guanabara Bay in Rio de Janeiro, which suffered two major oil spills this year. The system may employ buoys with infrared devices to transmit signals to low-orbit satellites when the devices detect the presence of hydrocarbons in the sea.
10/31/2000 -- BP denies charges of gasoline market manipulation
BP officials denied charges of gasoline market manipulation contained in a civil class action suit filed this summer in an Illinois state court against it and five other major oil companies.
10/31/2000 -- Analysts: Energy commodity, stock price disconnection to spur mergers and acquisitions
The surge in oil and natural gas prices hasn't given the stocks of all energy companies a boost, according to PricewaterhouseCoopers LLP's recent mergers & acquisitions (M&A) forecast for 2001. The lack of translation between high commodity prices and stock prices for energy companies will most likely continue to fuel M&A activity within the energy industry for the coming year.
10/31/2000 -- AMEC to acquire Ogden environmental consulting subsidiary
UK-based AMEC PLC plans to acquire the environmental consulting subsidiary of New York-based Odgen Corp. for $17.5 million, AMEC announced Tuesday. AMEC said the acquisition would more than double its US environmental and geotechnical engineering capability. Ogden sold the subsidiary as part of a strategy to divest its non-core businesses and focus on its role as an energy company.
10/31/2000 -- ISSUES & ANALYSIS: Searching for the 'yet-to-be found' in the North Sea
Despite recent announcements of large-scale capital investments, Norwegian and UK North Sea operators remain concerned about the region's future. OGJ Online News Editor-London Darius Snieckus reports that greater cooperation between the two countries' offshore industries is likely part of the solution.
10/31/2000 -- Maxygen, Chevron to develop new bulk chemical bioprocesses
Maxygen Inc., Redwood City, Calif., signed a 3-year agreement with Chevron Research & Technology Co. to develop bioprocesses for specific petrochemical products. Maxygen's work with Chevron will initially focus on the bioconversion of methane to methanol.
10/31/2000 -- Consultants: Southeast Asia producers could reap $16 billion in windfall revenues
Southeast Asian oil and gas producers could reap a windfall of more than $16 billion this year in the face of soaring and now high energy prices, according to Wood Mackenzie Consultants Ltd., Edinburgh. The clear leaders are Indonesia and Malaysia, where the cash windfall could amount to around $8 billion and $4.4 billion, respectively.
10/30/2000 -- IPAA members seek public focus on gas development issues
Growing US demand for natural gas will cause supply shortages and high prices, but it may finally focus public and political attention on producers' problems in finding and developing those resources, industry leaders said at the annual meeting of the Independent Petroleum Association of America. Convergence of natural gas and electric power technology will drive the US gross national product much more than any single other element over the next 5 years, said Dynegy Chairman Chuck Watson.
10/30/2000 -- Stone Energy, Basin Exploration to merge in $410 million deal
Stone Energy Corp. and Basin Exploration Inc. will merge their operations in a stock exchange valued at $410 million, Stone Energy reported Monday, creating a company with a market capitalization of $1.5 billion.
10/30/2000 -- IPAA members seek public focus on gas development problems
Growing US demand for natural gas will cause supply shortages and high prices, but it may finally focus public and political attention on producers' problems in finding and developing those resources, industry leaders said at the annual meeting of the Independent Petroleum Association of America in San Antonio, Tex.
10/30/2000 -- AEP plans US Securities and Exchange Commission filing
American Electric Power Co. Inc. Monday said it will seek authorization from the US Securities and Exchange Commission to divide the regulated and unregulated portions of the company into two separate corporations that will provide 'options for unlocking shareholder value.' Chairman Linn Draper Jr. said corporate separation is the company's highest priority between now and 2002.
10/30/2000 -- Duke foresees 30%-40% gas need increase at Moss Landing
Natural gas supply needs at Duke Energy North America's Moss Landing power plant in California will grow 30%-40% when it begins operation in 2002, say Bill Hall, vice-president of the Duke Energy Corp.'s California operations. Duke Energy North America received final approval from the California Energy Commission Oct. 25 to upgrade the existing plant and add 1,060 Mw of new capacity to the site's current 1,500 Mw. The plant received a seawater discharge permit Friday.
10/28/2000 -- LUMPY APPROACHES HURTING DEREGULATION OF ELECTRICITY
Deregulation of electricity markets has a problem common to the US and Europe: The process has been too lumpy.
10/27/2000 -- Technological development, personnel shortage remain critical points, says panel
Although advances in technology for drilling and other energy-related areas, and how that technology is applied, remain critical, the shortage of qualified personnel still holds back industry growth, said participants in an industry panel at the 12th Oilfield Breakfast Forum held Friday in Houston.
10/27/2000 -- Electric Power news briefs, October 27
El Paso Merchant Energy ... International Paper Co. ... CMS Energy Corp. ... Peoples Energy ... Laclede Gas Co. ... WPS Power Development Inc. .... Sierra Pacific Power Co. ... ISO New England Inc. ... New York Independent System Operator ... Ontario Independent Electric Market Operator

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