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General Interest 2000 P

  • 12/06/2000 -- Storage numbers pump gas prices
    Propelled by worries over tight supplies and near-term cold weather forecasts, natural gas futures prices reached a record high Wednesday for the second time this week and closed around four times higher than a year ago. The American Gas Association said gas supplies, as of the week ended Dec. 1, fell by 73 bcf to a total of 2,429 bcf. The AGA reported total supplies are 503 bcf below the year-ago level.
  • 12/06/2000 -- EIA boosts estimates for US winter heating bills
    The US Energy Information Administration said Wednesday home heating oil prices remain a major concern for the Northeastern US. It substantially increased its estimates for consumer natural gas and heating oil bills for the 2000-2001 heating season.
  • 12/06/2000 -- Pirinc says heating oil prices near 'trigger' for stock release
    The Petroleum Industry Research Foundation, New York City, said Wednesday that Northeast distillate prices are close to the level needed to trigger release of products from the 2 million bbl home heating oil reserve. The US established the reserve to prevent price spikes in New England.
  • 12/06/2000 -- Texas investigating gas pipeline rupture near Baytown
    The Texas Railroad Commission is investigating the rupture on a El Paso Energy Corp.-Enron Corp. intrastate pipeline Dec. 4, said a spokesman for Houston-based El Paso Energy Wednesday. Repairs to the line, commonly known as the Channel Industries intrastate pipeline, were expected to be completed this week.
  • 12/06/2000 -- DQE may put itself up for sale
    Pittsburgh-based DQE Inc. said Wednesday it might put itself up for sale and reported 2000 earnings would come in at the lower end of its 5-8% targeted growth rate. SG Barr Devlin and the Northbridge Group have been retained to explore options that could 'result in the divestiture of some or all of DQE's component businesses, including the sale of the entire company,' David Marshall, chief executive, said during an investor briefing.
  • 12/06/2000 -- Study planned for third Algeria-Europe gas pipeline
    BP, Italy's ENI SPA, Endesa of Spain, and France's Gaz de France SA and TotalFinaElf SA will participate with Algerian national oil and gas company Sonatrach and Spanish company Cepsa in a feasibility study for the third Algeria-Europe gas pipeline, it was announced Tuesday.
  • 12/05/2000 -- High gas and power prices dog California market
    With reserve margins falling to 7%, the California Independent System Operator called a Stage 1 emergency early Tuesday and is expected to declare a Stage 2 later in the day. If that happens, customers with interruptible load will be called on to shut off their electricity for the second day in a row. A Stage 3 emergency could be in the offing, an ISO spokesman said.
  • 12/05/2000 -- Madison Oil to buy ARCO's Turkish subsidiary
    Madison Oil Co., Dallas, Tex., has agreed to purchase BP subsidiary ARCO Turkey Inc. for an undisclosed amount. ARCO Turkey owns 19.6% working interest in Cendere field in south central Turkey. The field, operated by Turkish National Oil Co., has produced 12.7 million bbl and was producing 2,600 b/d of oil, 540 b/d net to ARCO.
  • 12/05/2000 -- Market watch, Dec. 5
    Energy futures prices closed mixed in trading on the New York Mercantile Exchange Monday as weather-driven demand in the US pushed NYMEX natural gas for January delivery 76� higher to finish at $7.43/Mcf. Gas prices rallied on the news that the Midwest and Northeast face below-normal temperatures during the next few weeks.
  • 12/04/2000 -- EU green paper urges common energy policy
    European Union nations need a common energy policy to ward off dependence on outside energy supplies, suggests the Energy Supply Safety green paper issued by Energy and Transport Commissioner Loyola de Palacio. The paper said EU dependence will grow to 70% from 50% in 2020-2030, requiring reductions in demand.
  • 12/04/2000 -- ARC Energy Trust to acquire Startech Energy
    ARC Energy Trust, Calgary, will acquire Startech Energy Inc., Calgary, in a $485 million (Can.) takeover deal. Startech produces about 10,000 b/d of crude oil and 35 MMcfd of natural gas in Alberta and Saskatchewan. The acquisition, approved by the Startech board, will increase ARC production by about 58% to 36,715 boe/d.
  • 12/04/2000 -- Market watch, Dec. 4
    Oil prices fell last week as markets refused to be rattled by another stoppage of Iraqi crude exports. Iraq resumed shipments Sunday. But natural gas prices could reach new heights this week with a resurgence of cold weather, particularly in the key Northwest US market, analysts said Monday.
  • 12/01/2000 -- Gulf Indonesia says Suban-4 its highest flow rate
    Gulf Indonesia Resources Ltd. reported its Suban-4 delineation well tested at the highest flow rate of any it has drilled in Indonesia�80 MMcfd of gas and 420 b/d of condensate from three perforated sections. A company spokesman said development of that reservoir could cost $1/boe or less.
  • 12/01/2000 -- PECO will send 20% of its residential customers to New Power
    PECO Energy Co. will turn over 20% of its residential customers to New Power Co., a unit of TNPC Inc., as a result of a competitive bid, ending a dispute with Green Mountain Energy Co. The reduction was a condition set by the Pennsylvania Public Utility Commission (PUC) for PECO to merge with Unicom Corp. New Power said it is working with Green Mountain and PECO so Green Mountain can serve a portion of the new contracted customer base.
  • 12/01/2000 -- Sharp says economics still dictate electricity decontrol
    Problems with electricity deregulation in some states should not deter or delay the effort nationwide, former US Rep. Phil Sharp said in Dallas Thursday. He said the US economy needs an innovative electricity market that can only come from decontrol.
  • 12/01/2000 -- Bighorn to gather Wyoming coalbed methane
    Bighorn Gas Gathering LLC, Tulsa, has signed multiple-year agreements with Prima Oil & Gas Co., a subsidiary of Denver-based Prima Energy Corp., to provide natural gas gathering services for Prima's coalbed methane gas production on 10,000 acres in Wyoming.
  • 12/01/2000 -- Interest groups struggle over electricity business standards
    Interest groups appeared as far apart as ever on the question of setting national standards for electricity transactions during a meeting in Dallas on harmonizing business practices. A consumer advocate questioned the need for national standards, while a group representing businesses with operations in multiple states argued for them.
    In a democracy, election outcomes are presumed to express the collective will of the electorate. Political interpretation should follow this assumption.
  • 12/01/2000 -- Ceiling for natural gas prices nowhere in sight
    Is there a ceiling in sight for US natural gas prices this winter?
  • 12/01/2000 -- Green politics in a harsh climate
    Any legally binding international agreement on the reduction of greenhouse gas emissions was last week in danger of being scuppered completely by political infighting as the Conference of the Parties on Climate Change (COP6) in The Hague wound up.

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