General Interest 2000 P

10/17/2000 -- Enron Corp.�s 3Q earnings beat analysts expectations
An earnings surprise from some of its core businesses helped Enron Corp.�s third quarter results beat analysts expectations. The Houston-based merchant energy company reported net income of $292 million compared to last year�s quarter of $223 million that excluded nonrecurring items. Earnings per share increased to 34� compared to 27� for the comparable quarter. Third quarter revenue jumped to $30 billion from $11 billion.
10/17/2000 -- Market watch, Oct. 17
World energy futures prices continued falling Monday, with traders taking profits from last week's run-up as diplomatic efforts seemed to quiet tension in the Middle East. The November contract for the benchmark US light, sweet crude dropped by $2.07 to $32.92/bbl on the New York Mercantile Exchange.
10/17/2000 -- Novus Petroleum makes takeover offer for Petroz
Novus Petroleum Ltd. has made a full takeover offer for all the shares of Petroz NL, Novus said Monday. This is a step up from the merger proposal launched last month.
10/16/2000 -- California utilities seek lower price cap, cost-of-service rates
Southern California Edison Co. and Pacific Gas & Electric Co., along with the Utility Reform Network, late Monday filed a petition asking federal regulators to impose a $100/Mw-hr price cap on wholesale electricity prices in markets run by the California Independent System Operator and the California Power Exchange. The petitioners also asked FERC to consider imposing cost-of-service pricing. Independent generators have opposed such a measure.
10/16/2000 -- Venezuelan oil strike ends, Chavez names new PDVSA president
Hours after a labor-management agreement ended a massive strike that almost brought Venezuela�s oil industry to a halt, President Hugo Chavez announced on Sunday a restructuring of state oil corporation Petroleos de Venezuela SA and, in a surprise move, named an army general to the helm of the company.
10/16/2000 -- Market watch, Oct. 16
Traders taking profits after the market's significant rally earlier last week caused energy futures prices to tumble Friday on the New York Mercantile Exchange. They also did not want to hold positions over the weekend.
10/13/2000 -- Electric power news briefs, October 13
Southern Energy Potrero LLC ... Consumers Energy ... Michigan Electric Transmission Co. ... Open Access Technology International Inc. ... Avista Corp. ... Consumers Energy Co. ... Michigan Consolidated Gas Co. ... SEMCO Energy Gas Co. ... Brascan Corp. ... Great Lakes Power Inc. ... Midwest Independent Transmission System Operator Inc. ... Rotary Power International Inc. ... West-Con Drilling Supplies Ltd.
10/13/2000 -- Cost-based rates will harm industry, Duke executive says
California's current price caps still provide enough incentive to developers to build new generation, says Brent Bailey, vice-president and general counsel of Duke Energy North America LLC, a unit of Duke Energy Corp. However, drastically lower caps or the imposition of cost-based rates will do more to halt construction of new generation than all of the regulatory barriers put together, Bailey said.
10/13/2000 -- Verberg: Energy market liberalization must not undercut investment
George Verberg, CEO of Dutch gas company NV Nederlandse Gasunie, yesterday warned European governments not to lose sight of crucial longer term issues of security of supply as liberalization of the continent's gas markets gathers pace. Verberg said the risk of loss of security of supply due to underinvestment was 'not an abstract, theoretical risk,' and pointed to the pitfalls encountered in California as it pushed ahead with full electricity liberalization in the last five years.
10/13/2000 -- Gadonneix promotes energy diversification
Gaz de France SA Chief Executive Pierre Gadonneix yesterday put the case for structured energy diversification in Europe�with gas taking up the mantle from oil as a lower risk answer to future energy demand on the continent. Gadonneix, speaking at the Gas Executives' Summit in Paris, said that 'more than ever citizens and political decisions makers were looking for ways to limit the impact of energy prices variations on the global economy,' such as resulted from the recent oil price spike.
10/13/2000 -- Market watch, Oct. 13
Violence in the Middle East on Thursday caused international energy prices to hit new highs for the decade, amid fears that the deepening crisis could lead to serious fuel shortages with US inventories at historically low levels.
10/12/2000 -- Slim savings could deter Texas electricity shoppers
Residential consumers might not get the savings they are expecting once the electricity market deregulates in Texas in 2002, warns a senior policy analyst for Consumers Union. Janee Briesemeister noted consumers want at least 10-20% savings to bother to switch. Low profit margin and volatility in the wholesale markets may also discourage potential retail electric providers from offering products, she says.
10/12/2000 -- Middle East tension heightens market concern
Escalation of Middle East violence triggered a 10-year spike in some international energy futures prices Thursday amid new fears of possible disruptions of oil supplies. However, a spot check of some of the oil companies active in those areas indicated no immediate threat to operations.
10/12/2000 -- DOE gets $100 million for fuel cell programs
The US Energy Department will have more than $100 million for fuel cell related programs in the new fiscal year, including $52.7 million for stationery fuel cell programs, $10 million more than the Clinton administration asked. The money was included in the Interior Appropriation bill, President Clinton signed Wednesday.
10/12/2000 -- Market watch, Oct. 12
Energy futures prices continued to climb Wednesday on the New York Mercantile Exchange in response to a report Tuesday by the American Petroleum Institute that US inventories of oil and distillates declined last week.
10/11/2000 -- City Public Service mulls building new coal plant
City Public Service Co., the second largest municipally owned electric utility in the US, is considering building a new coal-fired power plant in the San Antonio area. Speaking at a conference in Austin Wednesday, Milton Lee Sr., vice-president electric transmission and distribution for CPS, said the utility is definitely going to build a new power plant, and it will very likely be coal.
10/11/2000 -- Canadian 88 considers selling properties
Canadian 88 Energy Corp., Calgary, says it will consider selling some or all of its properties because its share price does not reflect the value of its assets. The announcement of the possible sale of the mid-sized natural gas producer comes 7 months after Duke Energy Corp. bought a 20% interest in the company in March.
10/11/2000 -- Grace Davison to form joint venture to offer hydroprocessing catalysts
A business unit of W.R. Grace & Co. has signed an agreement with Chevron Products Co. to create a company that will offer hydroprocesing catalysts and related services to customers in the global petroleum refining industry.
10/11/2000 -- Reliant names top executives for future separation
Taking the next step to separate into two publicly traded companies, Reliant Energy Inc., Houston, Wednesday said its current chairman, CEO, and president, Steve Letbetter, will serve as chairman and CEO of the unregulated company. David McClanahan, president and chief operating officer of the Reliant Energy Delivery Group, was named president and CEO of the regulated company.
10/10/2000 -- Iran's OPEC governor predicts difficulty for oil market in 2001
Iran's Organization of Petroleum Exporting Countries' governor, Hossein Kazempour Ardebili, said Monday that if the organization continued with its current level of oil production, the oil market would face an oversupply in the second and third quarters of 2001.

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