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General Interest 2000 P20

  • 06/11/2000 -- Natural gas injections rise, but storage outlook grim
    Analyst and investment firm Salomon Smith Barney Inc. says it expects natural gas prices to remain strong and that its earlier estimates could prove conservative as the US storage outlook remains grim, according to a recent company report.
  • 06/11/2000 -- Fluor directors approve spinoff
    Fluor Corp.'s board of directors has approved a plan to spin part of its operations into a separate 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.
  • 06/12/2000 -- Market Watch, June 12
    Oil futures prices are expected to rise again on the New York Mercantile Exchange (NYMEX) Monday after reports that the Organization of Petroleum Exporting Countries (OPEC) wouldn't decide whether to release more supply until its June 21 meeting in Vienna.
  • 06/12/2000 -- Sweden investigates alleged retail fuel price fixing
    Norwegian state oil firm Statoil AS and four other service station operators in Sweden are under investigation for possible illegal price fixing. The Swedish competition authority has been looking into the practices of Norsk Hydro Olje, OK-Q8 (owned by Kuwait's national oil company), Preem Petroleum, Svenska Shell, and Statoil Detaljhandel since December.
  • 06/12/2000 -- WORLD PETROLEUM CONGRESS: Responsible operations, economic development can coexist
    The environmental challenges facing the global petroleum industry emerged as a major theme at the first plenary session today at this week's World Petroleum Congress in Calgary. But speakers agreed that rising to those challenges doesn't preclude simultaneous economic development.
  • 06/13/2000 -- Market Watch, June 13
    Energy futures prices shot up in trading on the New York Mercantile Exchange (NYMEX) Monday as it looked less likely that oil producers will boost output later this month. Traders noted that prices were again rising on a wide range of news reports suggesting that the Organization of Petroleum Exporting Countries (OPEC) would be carefully reviewing world oil demand at its June 21 meeting in Vienna.
  • 06/13/2000 -- Calpine completes plant acquisitions in New York
    Independent power producer Calpine Corp., San Jose, Calif., on Monday said it's completed the $71 million acquisition of two natural gas-fired electric generation facilities in New York, heating up competition in the power-short US Northeast. The deal brings to 3,087 Mw, the total amount of generating capacity Calpine is operating, has under construction, or is planning to develop in the region.
  • 06/13/2000 -- WPC: Canadian police overprepared for demonstrators at WPC
    Most of the estimated 700 environmental and other activists who demonstrated peacefully Sunday at the start of 16th World Petroleum Congress (WPC) here apparently were back at their day jobs Monday. But WPC delegates are being treated to a large dose of environmental issues at this week's meeting. For the first time in the group's 67-year history, more than 25% of the discussions at this week's meeting center on social and environmental issues.
  • 06/13/2000 -- Marubeni commissions fuel cell plants
    Marubeni Corp., Tokyo, has commissioned up to 1.25 Mw of power plant capacity from FuelCell Energy Inc., Danbury, Conn. Under the contract, FuelCell Energy will deliver one 250 kw Direct Fuel Cell (DFC) power plant in 2001, followed by four additional 250 kw power plants or a Mw-class plant. The total value of the contract is $6.25 million.
  • 06/13/2000 -- Cabot to expand Brazilian carbon black plant
    Cabot Brasil, a subsidiary of Cabot Corp., Boston, Tuesday reported plans to build a $30 million state-of-the-art carbon black unit at its plant in Maua, Brazil. The new unit is in the final design stage, and start-up is scheduled for early 2002.
  • 06/13/2000 -- NSTAR seeks New England power price cap
    In a move that could heighten market uncertainty, New England's NSTAR Tuesday asked the US Federal Energy Regulatory Commission to impose a $1,000/Mw-hr electricity price cap between July 1 and Apr. 1, 2001. NSTAR is the parent company of Boston Edison, Commonwealth Electric, Cambridge Electric, and Commonwealth Gas.
  • 06/14/2000 -- Famfa, Texaco make deepwater oil find off Nigerian
    Famfa Oil Ltd., Texaco Inc., and Braspetro, the international arm of Petroleo Brasileiro SA, Tuesday reported preliminary results of a wildcat drilled on OPL Block 216, 70 miles off Nigeria in the deep water of the central Niger Delta. The Ikija-1 well encountered 240 ft of net oil and natural gas pay in multiple zones.
  • 06/14/2000 -- Elf plans offshore Nigeria development
    A TotalFinaElf SA subsidiary will soon begin development of a field discovered 10 years ago, the French oil major said. A joint venture of Elf Petroleum Nigeria Ltd. and Nigerian National Petroleum Corp. discovered the Amenam-Kpono field off Nigeria in 1990. TotalFinaElf estimates development of the 500 million bbl oil field could cost $1 billion. Production via a floating storage and offloading vessel is expected by 2003.
  • 06/14/2000 -- Market Watch, June 14
    Energy futures prices continued their strong rise in trading Tuesday on the New York Mercantile Exchange, amid speculation about what action, if any, the Organization of Petroleum Exporting Countries will take at its June 21 meeting.
  • 06/14/2000 -- Aquila seeks generation partner
    Cheap stock prices are pressuring more electric utility companies to consider divesting their faster-growing deregulated units as a means of realizing immediate value from them. But is there a market? It's a proposition more companies will be testing during the next several months.
  • 06/15/2000 -- Market Watch, June 15
    Energy prices continued to move up in trading on the New York Mercantile Exchange Wednesday, with gasoline prices closing at a 9-year high on a report of a steep decline in reformulated gasoline inventories.
  • 06/15/2000 -- Calpine acquires Texas power plant project
    Calpine Corp., San Jose, Calif., said it's acquiring the Freestone Energy Center in north Texas from Entergy Corp., New Orleans, for $61 million cash and assumption of $147 million in liabilities. In a related statement, the Shaw Group Inc., Baton Rouge, La., said as a result of Freestone's sale to Calpine, Shaw will no longer be participating in the project.
  • 06/15/2000 -- Technology to help US, Canada producers increase natural gas supply
    Technology advances are expected to increase the economic gas resources base of the US Lower 48 and Canada by 250 tcf and 125 tcf, respectively, according to a new report by the Gas Technology Institute (GTI). The report, titled Natural Gas Supply Sector Summary (GRI-00/0012), outlines several elements that will enable the US and Canada to expand gas supply despite recent market turbulence.
  • 06/16/2000 -- Alberta electricity exchange on launch pad
    The Alberta electricity forwards market is scheduled to be launched in the fourth quarter of this year, AgraLink Exchange Ltd., Calgary, and the Industrial Power Consumers & Cogenerators Association of Alberta reported Thursday.
  • 06/16/2000 -- Niagara Mohawk freezes certain gas rates
    Under a restructuring agreement with state regulators, Niagara Mohawk Power Corp., a unit of Niagara Mohawk Holdings, Syracuse, NY, will freeze natural gas rates through August 2003. The agreement also calls for Niagara Mohawk to implement educational programs to increase competition in the natural gas marketplace.
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