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General Interest 2000 P19

  • 06/02/2000 -- Jawboning crude prices down gets into high gear
    Efforts to jawbone crude oil prices back down are in full swing in Washington-but the real thing will happen in Riyadh ahead of the OPEC meeting.
  • 06/02/2000 -- Conoco expands on its success in Thailand's retail marketing sector
    US energy firm Conoco Inc. is aggressively expanding its retail oil products business in Thailand in the face of dramatic rationalization in the recession-hit Thai petroleum market. Subsidiary Conoco (Thailand) Ltd. intends to build 35 Jet-branded service stations by the end of 2001 at a cost of $40 million.
  • 06/02/2000 -- Market Watch: June 2
    Futures contracts for crude and petroleum products rallied on international markets Thursday with new reports of low US stocks of oil, gasoline and heating fuel. The New York Mercantile Exchange opened with a rally that wiped out Wednesday's losses on most contracts, with much of the gains coming in the last hour of trading.
  • 06/02/2000 -- Calgary police anticipate protests during WPC
    Calgary police are gearing up for maximum security during the World Petroleum Congress, which begins June 11 in the city. Police Inspector Murray Stooke says protests and violence at the recent World Trade Organization conference in Seattle suggested that Calgary should plan for large-scale demonstrations and civil disobedience at the 6-day WPC.
  • 06/05/2000 -- Stone & Webster bankruptcy, acquisition move forward
    Stone & Webster Inc. last week filed a voluntary petition for reorganization under US bankruptcy law and a definitive sales agreement with Jacobs Engineering Group Inc. The two moves are part of a deal between Jacobs and Stone & Webster, announced last month (OGJ Online, May 10, 2000).
  • 06/05/2000 -- Market Watch, June 5, 2000
    Oil futures contracts continued to gain on the New York Mercantile Exchange (NYMEX), buoyed by increased US demand for gasoline.
  • 06/05/2000 -- US, Mexico settle offshore territory dispute
    Following more than 2 years of bilateral negotiations, the US and Mexico have agreed on a division of the so-called Western Gap, a 17,190 sq km portion of the deepwater Gulf of Mexico that falls beyond the agreed maritime boundaries of the two countries. Under the just-negotiated treaty, announced June 1 in Mexico and expected to be signed on President Ernesto Zedillo's visit to Washington, DC, June 9, Mexico will end up with 62% of the gap, while the US will keep the remaining 32%.
  • 06/05/2000 -- Entergy sets 2001 earnings goal; forms partnership
    Speaking in New Orleans, Entergy Corp. Chief Financial Officer C. John Wilder said the company has set earnings goals of between $2.90 and $3.10/share for 2001. In addition, Wilder confirmed previous earnings estimates of $2.35 to $2.45/share for this year.
  • 06/06/2000 -- Electric Power news briefs, June 6
    Corn Products International ... Alliant Energy Resources ... Argo Power ... US Army ... Global Solar Energy ... Alliant Data Systems ... Excelergy ... PowerGen ... LG&E ... American Superconductor ... Space Environment Center
  • 06/06/2000 -- Energy firms begin to embrace bandwidth trading
    Trading bandwidth seems a question of not if but how fast the market will develop, compared with just 6 months ago. Enron Broadband Services Inc. is quoting prices daily on 20 routes globally both as buyer and seller, Vice-Pres. Stewart Seeligson said Monday. Other energy companies, including Williams, Dynegy, Duke, and American Electric Power, have begun to investigate trading broadband capacity.
  • 06/06/2000 -- Market Watch, June 6, 2000
    Oil futures fell on international markets Monday after Ali I. Naimi, Saudi Arabia's petroleum minister, said OPEC members will take necessary steps to deal with artificially high prices.
  • 06/07/2000 -- Conoco welcomes Russia's PSA encouragement
    Conoco Inc. says that Russian President Vladimir Putin's encouragement of production-sharing agreements could improve Russia's investment climate. Last week, Putin signed a law enabling negotiations for a PSA on the giant Shtokmanovskoye field; both houses Parliament had already approved the draft law. Conoco has been involved in discussions for some time for a production-sharing contract for an area in the northern territories that includes acreage in the Timan-Pechora oil and gas province.
  • 06/07/2000 -- Market Watch, June 7
    New York Mercantile Exchange petroleum futures prices ended mixed Tuesday, as traders waited for data to support recent speculation about whether the Organization of Petroleum Exporting Countries will increase production at its upcoming meeting.
  • 06/08/2000 -- Japanese-Azeri group awards Caspian Sea seismic contract
    Japan Azerbaijan Oil Co., a joint venture led by State Oil Co. of Azerbaijan Republic, awarded a contract for collection and processing of shallow-water 3D seismic data over a Caspian Sea production-sharing agreement area to Caspian Geophysical, a joint venture of Schlumberger Ltd. and SOCAR.
  • 06/08/2000 -- New York ISO to consider electricity price caps
    With possible power shortfalls and price spikes looming, the New York Independent System Operator board on June 20 will consider a controversial proposal to cap electricity bids in the day-ahead and real-time energy markets at $1,000/Mw-hr. Earlier, FERC approved the New York ISO's bidding restrictions on 10-min nonspinning reserves on an interim basis but rejected a cap on 10-min spinning reserves.
  • 06/09/2000 -- Is $5/MMbtu natural gas possible before summer's end?
    Is $5/MMbtu out of the realm of possibility even before the summer is out? You bet it is.
  • 06/09/2000 -- Market Watch: June 9
    Unconfirmed speculation that Saudi Arabia may favor a production increase triggered a retreat in oil futures prices on international markets Thursday.
  • 06/09/2000 -- Fluor directors approves division of company
    Fluor Corp.'s board of directors has approved a plan to spin off a company, resulting in the creation of two publicly held companies, Fluor Corp. and Massey Energy Co., the company reported Thursday. Fluor Corp. will focus on engineering and construction, while Massey will focus on coal mining.
  • 06/09/2000 -- Repsol-YPF launches exchange offers
    Repsol-YPF SA, Madrid, said it plans to offer to acquire the shares of affiliates Astra, YPF, and Repsol Comercial. it doesn't already own.
  • 06/09/2000 -- PowerGen to buy into UK power station
    The UK's PowerGen PLC Friday said it will take a 50% share in Corby Power Ltd. in a deal with Dominion Resources Inc., Richmond, Va., and ESBI Engineering Ltd. After the transaction is completed, the Corby power plant will be owned 50% by PowerGen and 50% by ESBI.
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