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General Interest 2001 P18

  • 12/14/2001 -- Shell adds Serrano field subsea system to Auger tension leg platform
    Shell Exploration & Production Co. said Friday the Serrano subsea production system has been added to its Auger tension leg platform.
  • 12/14/2001 -- EIA says US natural gas prices will continue to fall through 2002
    The US Department of Energy said Friday natural gas prices should continue to decline through 2002 as supplies increase. Energy Sec. Spencer Abraham had ordered the study because of broad concerns about tight supplies, volatile prices, and regional price disparities.
  • 12/14/2001 -- Market watch: Energy prices mixed in trading on OPEC uncertainty
    Energy futures prices were mixed in trading on the New York Mercantile Exchange Thursday. The January contract for light, sweet crude fell 24¢ to close at $18.12/bbl, while the February contract fell 21¢ to close at $18.53/bbl.
  • 12/13/2001 -- Congressional committees want Andersen's Enron records
    Two congressional committees Thursday called on Enron auditors Andersen LLP to turn over audit records and permit their staffs to interview the partner in charge of the Houston energy company's account. They also want to interview former Enron CEO Jeff Skilling.
  • 12/13/2001 -- Barton plans vote next week on electricity reform bill
    US Rep. Joe Barton (R-Tex.), chairman of a US House energy subcommittee, Thursday said he expects to call a vote on an electricity supply and transmission reform bill in a week. After 2 days of hearings, Barton conceded the proposed legislation is not 'a perfect bill,' but the chairman of the Subcommittee on Energy and Air Quality said it was time for Congress to make 'hard choices' about electricity reform.
  • 12/13/2001 -- Woodward expands gas marketing operations in Kentucky
    Woodward Marketing LLC, a unit of Atmos Energy Holdings Inc., Dallas, has acquired the gas marketing assets of Innovative Gas Services Inc. and the common stock of Southern Resources Inc. for $3 million in cash.
  • 12/13/2001 -- Market watch: Energy futures prices make small gains
    Futures prices for oil and refined products rebounded slightly in international markets Wednesday. Prices moved higher as selling became less aggressive, analysts said. However, they said the trend for energy prices is still downward, barring any surprise alteration in the balance of supply and demand.
  • 12/13/2001 -- Gov. Knowles tightens Alaska's environmental, safety oversight
    Alaska Gov. Tony Knowles has tightened the monitoring of environmental and workplace safety at oil and gas production facilities on the North Slope and Cook Inlet, while streamlining permitting. The initiative would cost $4.8 million, of which $1.1 million would be from existing industry fees.
  • 12/12/2001 -- NYMEX acquires Houston firm for electronic checks of energy trades
    The New York Mercantile Exchange said Wednesday it acquired a Houston company to provide electronic confirmation of energy trades for its clients.
  • 12/12/2001 -- Duke Energy Field Services starts up replacement gas plant in Texas
    Duke Energy Field Services, an affiliate of Duke Energy Corp., has started up a new gas processing plant in Port Arthur, Tex.
  • 12/12/2001 -- SEC official hints of other disclosure problems besides Enron
    Robert Herdman, chief accountant for the Securities and Exchange Commission, Wednesday told the US House of Representatives Committee on Financial Services there could be more 'Enrons' out there. The committee questioned Herdman about the SEC's financial disclosure rules in a hearing about Enron Corp.'s sudden financial collapse.
  • 12/12/2001 -- PSEG Global completes $227 million Peruvian purchase
    PSEG Global, Parsippany, NJ, Wednesday reported completing the $227 million acquisition of ElectroAndes, Peru's sixth largest electric generating company. Robert Logan, president of PSEG Americas, said the acquisition is important to company efforts to build sustainable businesses in regions of strategic importance to PSEG Global.
  • 12/11/2001 -- Enron banker J.P. Morgan sues for $2.1 billion
    Enron Corp. creditor J. P. Morgan Chase & Co. Tuesday sued the crippled Houston energy giant in a New York bankruptcy court for a reported $2.1 billion, claiming rights to certain assets, which the New York bank said were not protected by Enron's Chapter 11 reorganization filing.
  • 12/11/2001 -- Calpine CEO says company taking 'hard look' at 2002 earnings
    Calpine Corp. CEO Pete Cartwright Tuesday said the company is taking a 'hard look' at earnings projections for 2002 because of a softening of electricity prices and the recession. But despite these issues, Cartwright said the company isn't ready to revise earnings projections for 2001 or 2002. Financial analysts grilled company executives for 3 hr Tuesday.
  • 12/11/2001 -- California regulators looking into forced power plant retirements
    California regulators are looking into the possibility of forced retirement of aging electric generating units, if it benefits the public. Up to now, state energy policy refrained from mandating outright retirements of older generators, a staff report for the California Energy Commission noted, but the state could have an interest in offering incentives to persuade owners to take them out of service.
  • 12/11/2001 -- US House committees expand Enron investigation
    Congressional committees examining Enron Corp.'s downfall expanded their investigation Tuesday, calling on the Houston energy company to release documents relating to off-balance sheet entities and risk management policies. Earlier, the committees asked the Securities and Exchange Commission to turn over Enron related records.
  • 12/11/2001 -- Market watch: Energy futures prices fall, wiping out previous gains
    Other than natural gas, energy futures prices fell Monday, wiping out Friday's gains on the New York Mercantile Exchange from the first seasonal snowfall in the key Northeast US market area.
  • 12/10/2001 -- Calpine rejects comparison with Enron
    Calpine Corp. executives said the company is not facing the same problems that affected Enron Corp. and any close comparison is unfounded. Pete Cartwright, CEO, hosted a conference call with investors to quell any concerns generated by a recent published report that implied the two companies had similar structures, strategies, and accounting practices.
  • 12/10/2001 -- US DOE names Mirant's Fuller to chair Electricity Advisory Board
    US Energy Sec. Spencer Abraham has named Marce Fuller chairman of the Department of Energy's Electricity Advisory Board. Fuller is the CEO of Mirant Corp. Abraham named Linn Draper, CEO of American Electric Power Co. Inc., vice-chairman.
  • 12/10/2001 -- AES unit predicts flat UK electricity prices for up to 3 years
    AES Corp. officials said Monday they expect electricity prices in the UK to remain flat with little improvement for as long as 3 years. Excess generating capacity is taking a toll on the profitability of Drax, a large coal-fired power plant in the UK owned by an AES unit.

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