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General Interest 2000 P

  • 10/05/2000 -- Governor delays opening of Nevada power market
    In a setback for deregulation, Nevada's Gov. Kenny Guinn Wednesday pushed back the start of competition in the state's electric power markets by almost 1 year, claiming Nevada does not have a long-term strategy in place for meeting the state's energy needs. Under a July agreement, competition was scheduled to start Nov. 1 for some of the state's biggest power customers, including Las Vegas casinos. But the governor now says competition will begin by Sept. 1, 2001.
  • 10/05/2000 -- Petsec Energy reaches sale agreements worth $65 million
    Australian company Petsec Energy Ltd. said its wholly owned US subsidiary Petsec Energy Inc. has either sold or signed deals to sell most of its leases. The sales will total about $65 million.
  • 10/05/2000 -- Indonesian gas agreement in principle reached
    Gulf Indonesia Resources Ltd. and partners will sell additional gas from their Corridor Block production sharing contract in south Sumatra, Indonesia, to fuel a steamflood at PT Caltex Pacific Indonesia's Duri field in central Sumatra.
  • 10/05/2000 -- Market watch, Oct. 5
    Energy futures prices again closed mostly down on international markets Wednesday. Oil slid downward due to continuing reaction to the release of oil from the US Strategic Petroleum Reserve. High bidders for all 30 million bbl offered were announced Wednesday. Other futures seemed to catch a mild cold, as well, probably due to reports of higher-than-expected stocks.
  • 10/04/2000 -- NRG, EnBW to bid for east German utility Veag
    In yet another twist in the evolution of the German power market, independent power producer NRG Energy Inc., Minneapolis, and German energy firm EnBW Energie Baden-Wurttemberg AG (EnBW) will jointly bid for control of Vereinigte Energiewerke AG (Veag.), east Germany's biggest power producer, the companies reported Wednesday
  • 10/04/2000 -- Electric Power news briefs, October 4
    ScottishPower PLC ... PacifiCorp ... National Propane Gas Association ... H Power Corp. ... GE Power Systems ... Jenbacher Group ... AmerenEnergy Fuels and Services Co. ... Unicom Corp. ... Bumler Heating and Specialties Inc. ... Building Automated Systems and Services ... Muscatine Power and Water ... Tenaska Power Services Co. ... Omaha Public Power District ... TNP Enterprises Inc. ... First Choice Power Inc. ... Coastal Merchant Energy LP ... Competitive Power Ventures Inc.
  • 10/04/2000 -- SPE meeting explores ways to cope with change
    Sessions at the annual meeting of the Society of Petroleum Engineers in Dallas have explored ways to deal with the problems of consolidation, new technology, an evolving workforce, and other issues that are reshaping the oil and gas business. While no pat answers were provided, some new perspectives were offered.
  • 10/04/2000 -- Market watch, Oct. 4
    Energy futures were mostly down in trading on international markets Tuesday. The influx of crude promised by the Organization of Petroleum Exporting Countries and the release of oil from the US Strategic Petroleum Reserve contributed to ease supply concerns, as did a 3.4-million-bbl rise in US crude oil stocks reported by the American Petroleum Institute.
  • 10/03/2000 -- Calif. Governor vetoes state aid for San Diegans
    California Gov. Gray Davis vetoed a bill that would have handed over $150 million of taxpayer money to San Diego Gas & Electric Co. in 2003 to reduce consumer electric bills. In his veto message, the governor said the bill was 'premature, sets a troubling precedent, and encourages merchant generators and energy traders to continue to act unreasonab[ly].'
  • 10/03/2000 -- Economist predicts natural gas price spikes, market changes
    The global natural gas market is about to change more drastically than most observers expect, and in directions few suspect, a University of Houston economics professor said Monday. Michael J. Economides, co-author of The Color of Oil, a book about the economics of the industry, presented a paper at the annual meeting of the Society of Petroleum Engineers.
  • 10/03/2000 -- Cement company first and only to file as Texas electricity retailer
    A cement and steel company is the first and�so far�the only company to file an application to become an electricity retailer in Texas. September 1 was the first day companies could register interest in selling power under the state restructuring law and no other companies have filed yet, according to records at the Public Utility Commission of Texas. Commission Chairman Pat Wood has said he expected at least 27 to 30 applicants once filing was allowed.
  • 10/02/2000 -- AES to buy Reliant's Brazilian holdings for $430 million
    AES Corp. and EDF International SA, a unit of Electricit�e France, reported they have agreed to jointly acquire the 11.68% interest in Brazil's Light Servicos de Eletricidade SA owned by two subsidiaries of Reliant Energy Inc. for $430 million. An AES subsidiary will purchase about 30% of the shares to be sold while EDF will purchase the remainder.
  • 10/02/2000 -- CMS Energy to spin off 50% of E&P subsidiary
    CMS Energy Corp. will spin off up to 50% of its exploration and production subsidiary, CMS Oil & Gas Co., and issue $300 million in CMS Energy common stock to raise cash, reduce corporate debt and maintain its goal of 10% growth per year.
  • 10/02/2000 -- AEC to acquire remaining interest in Express Pipeline System
    Alberta Energy Co. Ltd., Calgary, has agreed to acquire the 50% interest in the Express Pipeline and the Platte Pipeline�known together as the 'Express Pipeline system'�that it does not already own from TransCanada PipeLines Ltd. AEC will also acquire TCPL's 50% interest in two partnerships which were formed to act as shippers on these pipelines. The purchase price is about $90 million plus the assumption of $295 million in debt.
  • 10/02/2000 -- Orion to buy Columbia�s merchant power business
    Orion Power Holdings Inc. said it will buy Columbia Electric Corp. for $200 million. Orion is increasing its portfolio of merchant power generating plants and Columbia Energy, the parent of Columbia Electric is getting out of the business in preparation for its merger with electric utility NiSource Inc.
  • 10/02/2000 -- Market watch, Oct. 2
    Energy futures prices climbed in trading on the New York Mercantile Exchange Friday, mostly due to technical factors. Some analysts believed the rally would be short-lived, strangled by promised oil production boosts and the release of strategic reserves.
  • 10/01/2000 -- ISSUES & ANALYSIS: MMS setting groundrules for FPSOs in Gulf of Mexico
    Senior Oil and Gas Writer Sam Fletcher outlines the US Minerals Management Service's plans for a regulatory system governing use of floating production and storage systems for the first time in the Gulf of Mexico.
  • 09/29/2000 -- Colder weather predicted to drive Michigan market up
    Even if natural gas prices remain the same, predicted colder temperatures in Michigan will increase use and heating bills this winter, the Michigan Public Service Commission (MPSC) says in an assessment of state energy prices and availability. While the National Weather Service projects winter temperatures for Michigan to be near normal, they will seem cold compared to the last three winters, which averaged 7% warmer than normal.
  • 09/29/2000 -- Market watch, Sept. 29
    Energy futures prices weakened considerably in trading on the New York Mercantile Exchange Thursday. Comments by the Saudi crown prince that Saudi Arabia could raise production substantially at short notice formed the basis for trading.
  • 09/29/2000 -- The senator and the secretary
    Pres. Bill Clinton's decision to sell 30 million bbl from the US Strategic Petroleum Reserve set the stage for more jousting recently between Energy Sec. Bill Richardson and Sen. Frank Murkowski (R-Alas.)
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