General Interest 2001 P

09/07/2001 -- FTC finally clears way for $35 billion Chevron-Texaco merger
The US Federal Trade Commission (FTC) has finally approved a consent order, clearing the way for Chevron Corp. and Texaco Inc. to complete their merger into ChevronTexaco Corp. through a $35 billion stock-swap, company officials said Friday.
09/07/2001 -- Western governors warn against federal intervention on electricity
Federal electric transmission legislation should focus on cooperation not federal usurpation of state authority, Arizona Gov. Jane Hull said Friday at the Western Governors' Association meeting. In a letter to the US Senate Energy and Natural Resources Committee, the western governors' group said it opposes 'unwarranted and inappropriate' proposals to preempt state authority over transmission line siting.
09/07/2001 -- Sanctions season
It appears that the US Congress this year will continue advocating the use of economic sanctions as a foreign policy tool. Major oil companies, often accused by their detractors of having special sway in the Republican-led House of Representatives, have had few victories on this issue.
09/06/2001 -- Suggs family sells controlling interest in Petroleum Helicopters
The Suggs Family Fund LLC said Thursday it sold its controlling interest in Petroleum Helicopters Inc., the largest helicopter transport firm serving the offshore oil and gas industry, to Houston businessman Al A. Gonsoulin.
09/06/2001 -- Williams expects 'robust' capital expenditures during 2002
Diversified energy company Williams Cos. Inc. plans to continue growing aggressively next year with a capital expansion budget that will be "very robust," Chairman Keith Bailey said Thursday. Bailey said Williams expects to spend between $3-5 billion on internal projects, not counting possible acquisitions.
09/06/2001 -- Lagging industrial demand hurting gas use, EIA says
Natural gas consumption is expected to decline 1.3% this year, compared to last, a government agency said Thursday, reflecting sharp reductions in industrial gas demand, particularly related to processes other than the production of electricity.
09/06/2001 -- Market watch: Refined products buoy prices
Refined petroleum products buoyed prices on international energy futures markets Wednesday as traders correctly anticipated a drawdown of US inventories. The October contract for unleaded gasoline jumped 1.99¢ to 78.83¢/gal on the New York Mercantile Exchange.
09/06/2001 -- Oil firms explain diverse technology strategies at Aberdeen conference
Oil and gas companies have adopted a variety of methods for selecting, developing, and applying technology. At the Offshore Europe conference in Aberdeen, representatives of four operating companies described their approaches.
09/05/2001 -- Lay tells Wall Street asset sales will boost Enron stock price
Enron Corp. Chairman Ken Lay Wednesday sought to reassure Wall Street analysts and investors the company will do whatever is necessary to restore its sagging stock price. That includes divesting $4-5 billion in assets within 2 years and doing a better job breaking down specific performance numbers on business units.
09/05/2001 -- Lay says asset sales to help boost Enron stock price
Enron Corp. Chairman Ken Lay Wednesday sought to reassure Wall Street analysts and investors the company will do whatever is necessary to rebuild faith in its sagging stock price. He said that includes divesting $4-5 billion in assets within 2 years, and doing a better job breaking down specific performance numbers on the energy conglomerate's business units.
09/05/2001 -- FERC challenges legalities of new California Power Authority
Many activities of the newly created California Consumer Power & Conservation Financing Authority will require federal regulatory approval and some are legally 'problematic,' the Federal Energy Regulatory Commission's general counsel said.
09/05/2001 -- Petronas Carigali says Pakistani gas discovery 'encouraging'
A joint venture led by Petronas Carigali (Pakistan) Ltd. has tested a well at a maximum rate of 25.6 MMcfd of gas near Sukkur in Sindh province, Pakistan.
09/05/2001 -- Market watch: Energy futures fall
Energy futures prices dropped Tuesday as US traders came back from their holiday break. The benchmark US light, sweet crude declined by 27¢ to $26.93/bbl on the New York Mercantile Exchange.
09/04/2001 -- Shell Energy withdraws from Texas, other retail electricity markets
In a blow to the already troubled Texas retail electricity market, Shell Energy Services Tuesday said it will withdraw from the Texas market and will also close out its retail power sales in other states. The decision by the unit of the huge oil company comes on the heels of scores of filings with the Public Utility Commission of Texas calling for corrections to problems that have plagued the retail market.
09/04/2001 -- Devon plans $1 billion asset sale after two major acquisitions
Devon Energy Corp. officials plan to take an across the board look at their newly expanded company to reduce debt incurred from the recent purchases of Anderson Exploration Ltd. and Mitchell Energy & Development Co.
09/04/2001 -- US Senate eyes confirmation hearing for BLM nominee Kathleen Clarke
The US Senate Energy and Natural Resources Committee staff expects a relatively quick confirmation hearing for Kathleen Clarke, nominated to become the first woman director of the Bureau of Land Management. Clarke has been executive director of the Utah Department of Natural Resources since 1998.
09/04/2001 -- Market watch: Market buoyed by OPEC production cut
International energy futures markets were in a bullish mood both before and after the extended US Labor Day weekend as traders focused on official starts of the winter heating season and the latest 1 million b/d reduction in production by the Organization of Petroleum Exporting Countries.
09/04/2001 -- Global Marine, Santa Fe to merge operations into $6 billion firm
Global Marine Inc., Houston, and Santa Fe International Corp., Dallas, said Monday they plan to merge in a stock-for-stock transaction that will create the world's second largest offshore drilling contractor. The merged $6 billion company, GlobalSantaFe Corp., will operate 59 offshore rigs.
08/30/2001 -- Wholesale market reforms could keep lid on power prices, group says
A state regulatory group called for an overhaul of US wholesale electricity markets to allow more competition between load management programs and supply responses to help keep the lid on prices. A report prepared for the National Association of Regulatory Utility Commissioners estimated up to one-half the expected growth in electricity demand in the next few years could be displaced by load management, energy efficiency, and pricing reforms.
08/30/2001 -- NYMEX plans to offer more energy risk-management products
The New York Mercantile Exchange is making an effort to respond rapidly to customers' risk management needs, NYMEX Pres. J. Robert Collins said Thursday as he promoted the exchange's upcoming launch of Brent trading.

Home

General Interest

Exploration & Development

Drilling & Production

Processing

Transportation

Home

2001

General Interest 2001 P