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General Interest 2000 P17

  • 05/22/2000 -- Italy approves decisive gas deregulation bill
    Italy approved a bill May 19 fixing new antitrust ceilings and implementing other measures to open up the heavily monopolized domestic natural gas market, in compliance with European Union directives. The full text of the bill will be published in a matter of days, but Minister of Industry Enrico Letta has provided a glimpse into its contents.
  • 05/23/2000 -- Market watch: May 23
    Oil futures plummeted Monday on international markets in a knee-jerk reaction to news reports that OPEC members might reconsider another production increase if prices remain too high.
  • 05/23/2000 -- BP Amoco announces third Angola Block 18 find
    BP Amoco PLC said it has made a third discovery on the prolific Block 18 off Angola. On test, Galio-1 flowed 4,770 barrels per day of 34� gravity crude. Block operator BP Amoco said work to evaluate the Galio accumulation is continuing.
  • 05/23/2000 -- Texas Railroad Commission approves PE pipe replacement
    The Texas Railroad Commission on Tuesday approved two pipeline safety proposals sponsored by agency chairman Michael L. Williams requiring TXU Corp., Dallas, to dig up all segments of polyethylene pipe by December. The recommendation for removing polyethylene pipe�along with a second recommendation to form a pipeline safety task force�were prompted by the commission's recent release of its investigative findings into a January 2000 house explosion in Garland, Tex.
  • 05/23/2000 -- US Supreme Court to hear smog-soot case
    The US Supreme Court has agreed to review an appeals court�s decision that the US Environmental Protection Agency exceeded its authority in 1997 when it issued controversial smog and soot standards. The high court will hear arguments and issue an opinion during its term that begins in October.
  • 05/23/2000 -- General interest news briefs, May 24
    Canada Ministry of Foreign Affairs ... Calpine Corp. ... Babcock & Wilcox ... Public Service Co. of Colorado ... Utility Engineering Corp. ... GreenMountain.com ... National Wind Power ... Nordex GMBH ... Whirlpool Corp.
  • 05/23/2000 -- Study warns against converting heating oil users to gas
    A Charles River Associates study said that converting northeastern US heating oil consumers to natural gas could raise their energy costs. W. David Montgomery of Charles River Associates said, 'Our study finds that the cost of such conversions would far exceed any potential benefit the Department of Energy is trying to achieve.'
  • 05/23/2000 -- Processing news briefs, May 24
    Sunoco Inc. selects AspenTech's refinery-wide optimization tool for Antwerp cracker; BASF AG chooses Foxboro and Simulation Sciences products for German plants.
  • 05/24/2000 -- Market watch: May 24, 2000
    Oil futures prices began slowly climbing again Tuesday from the previous day's drop, as traders apparently overcame earlier fears that OPEC may again increase production. US Energy Sec. Bill Richardson said Tuesday he still may ask OPEC members to hike output to deflate high oil prices. But OPEC officials have said they will only consider the realities of supply and demand in making such decisions.
  • 05/24/2000 -- Brazil's Senate panel clears way for sale of Petrobras shares
    Brazil's senate panel on economic affairs on Tuesday rejected a bill that would have blocked the sale of 30% of Petroleo Brasileiro SA shares. The sale of the shares is estimated to be worth 8 billion real. The government, which owns an 82% stake in Petrobras, can now go ahead with plans to sell the shares in July. Analysts say the move might be a step towards Petrobras's privatization.
  • 05/24/2000 -- Samson Canada succeeds in bid for Calahoo Petroleum
    Samson Canada Ltd., a subsidiary of Tulsa-based Samson Investment Co., on Wednesday said that 95.4% of the common shares of Calgary's Calahoo Petroleum Ltd. and 88.3% of the preferred shares have been tendered as a result of Samson's offer to acquire Calahoo. The deal was first announced in April, contingent on Samson acquiring at least two thirds of Calahoo's shares.
  • 05/24/2000 -- corrected: BP Amoco wins Vastar board support for minority buyout
    BP Amoco PLC said on Wednesday it has won approval from Houston-based Vastar Resources Inc.'s board of directors to acquire the 18.1% of Vastar it doesn't already own. BP Amoco proposes to buy the 17.7 million shares of Vastar stock for $1.47 billion, or $83/share.
  • 05/24/2000 -- US DOE seeks better world oil data
    US Energy Sec. Bill Richardson said Wednesday that his department would convene a conference this summer to explore how the US could improve the accuracy of world oil pricing data. Richardson said the Department of Energy needs data �that we can more effectively rely on.�
  • 05/24/2000 -- GPU declines bids for Australian assets
    GPU Inc., a Morristown, NJ-based public utility holding company, on Wednesday said it has declined all bids to buy its Australian subsidiaries, GPU PowerNet and GPU GasNet. Submitted bids fell below GPU's expectations 'and would not have produced sufficient value for our shareholders,' says Bruce Levy, senior vice-president and chief financial officer of GPU.
  • 05/25/2000 -- Market watch: May 25
    Oil futures surged on international markets Wednesday with an American Petroleum Institute report that US crude stocks fell an unexpected 1.33 million bbl to a total inventory of 303.56 million bbl last week.
  • 05/25/2000 -- MTBE escapes carcinogen list
    The Oxygenated Fuels Association, Arlington, Va., said Thursday that the National Institute for Environmental Health Sciences has omitted methyl tertiary butyl ether from its list of known carcinogens. US legislators are expected to push bills this summer to phase out MTBE use in reformulated gasoline because the substance has been detected in drinking water supplies.
  • 05/25/2000 -- National Power writes down Pakistani projects
    The UK's National Power PLC, the major stakeholder in Pakistan's Hub Power Co. and the Kot Addu Power Complex, has slashed the value of its holdings in the projects to �131 million from a cumulative �262 million, sources reported. NP's board of directors made the decision after an unresolved years-long dispute with the Pakistani government and power regulating agencies.
  • 05/26/2000 -- Transportation news briefs, May 26
    Williams gets FERC approval on Transco capacity increase; Cenex Harvest States Cooperatives replaces segment of Montana products line.
  • 05/26/2000 -- New England power producers to feel restructuring pressures
    Texas electric utilities should escape the pressure to reorganize and merge that is bearing down on New England power producers. But in an era of cutthroat competition, this could be a two-edged sword for Texas producers, says a national energy consultant.
  • 05/26/2000 -- Processing news briefs, May 26
    Idemitsu Kosan Co. Ltd. ... Belnaftokhim ... Mitsui & Co. Ltd. ... Sonangol ... Technip Angola Ltd.

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