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General Interest 2001 P

  • 01/22/2001 -- Enron reports 9% increase in net income for 2000
    Enron Corp. reported a $326 million charge to fourth quarter earnings from losses on its investment in Azurix Corp., the fledgling water company Enron spun off a few years earlier. Fourth quarter earnings fell by 77% to $60 million from $259 million in the 1999 comparable quarter. For the year, Enron reported income increased to $979 million, compared to $893 million in 1999, a 9% increase.
  • 01/22/2001 -- President Bush nominates Hebert FERC chairman
    With California's power troubles mounting, President George W. Bush Monday moved quickly to name avowed free market advocate Curtis L. Hebert Jr. chairman of the Federal Energy Regulatory Commission, replacing William Massey, a last minute Clinton Administration appointee. Hebert, the only Republican on the current five-member agency, has argued against federal involvement in the California electricity crisis.
  • 01/23/2001 -- Market watch, Jan. 23
    Energy futures prices generally dipped slightly on international markets Monday as participants took profits from Friday�s run up. But the February contract for benchmark US light, sweet crudes was unchanged at $32.19/bbl on its last day of trading on the New York Mercantile Exchange.
  • 01/23/2001 -- Indonesia to open exploration block tender
    The Indonesian government is preparing to issue a tender for 21 exploration blocks. The government took over concession-awarding tasks from the state-owned oil and gas company Pertamina this year.
  • 01/23/2001 -- California ISO chief says Path 15 upgrade plan being readied
    Planning is underway to upgrade the often-constrained transmission path which carries electricity between northern and southern California, the chief operating officer of the California Independent System Operator (ISO) said during a Tuesday briefing. Kellan Fluckiger said the ISO and Pacific Gas & Electric Co. have been working for some time on a proposed upgrade plan, including a 500 kv line, which should be 'completed in the next few days.'
  • 01/23/2001 -- NPRA to challenge diesel fuel rule
    The National Petrochemical & Refiners Association said Tuesday it will challenge the US Environmental Protection Agency's final diesel sulfur rule in federal court. The rule, among other provisions, calls for a 97% reduction in the sulfur content of highway diesel fuel to 15 ppm from 500 ppm.
  • 01/24/2001 -- Market watch, Jan. 24
    Energy futures prices further weakened in trading Tuesday on the New York Mercantile Exchange. The March contract for light, sweet crude declined by 23� to settle at $29.57/bbl, while the April contract stood at $28.79, down by 11�.
  • 01/24/2001 -- Oxygenated Fuels Association sues to stop California MTBE ban
    The Oxygenated Fuels Association, an international trade group based in Arlington, Va., filed suit Wednesday to enjoin the state ban on the use of methyl tertiary butyl ether in California gasoline. The complaint, filed in federal court in Sacramento, asks the court to invalidate the MTBE ban because it is precluded by the federal Clean Air Act.
  • 01/24/2001 -- UK's Powergen cuts meter prepayment premium
    The UK Trade & Industry Sec. Stephen Byers' said Wednesday a new �14 million initiative will cut the cost of buying electricity through prepayment meters 6%, lowering power bills for 200,000 households. The initiative, developed by electricity supplier Powergen PLC, will especially benefit the less well off, he said. It will provide immediate savings of �7 and ultimately will save customers an average of �15/year on a yearly bill of �252.
  • 01/24/2001 -- San Diego Gas & Electric appeals for rate surcharge
    San Diego Gas & Electric Co. Wednesday disclosed its undercollected power costs total $450 million and could top $1 billion by yearend, if it doesn't get relief from California regulators. The Sempra Energy unit is asking for a 2.3�/kw-hr surcharge beginning March 1, to help manage its undercollections. In a statement, the utility said the cost of buying wholesale energy continues to be significantly higher than what the company is authorized to charge customers.
  • 01/24/2001 -- Reliant Energy responds to California call for power bids
    California's request for bids for power expired at noon Wednesday, but the governor's office delayed the results which were scheduled to be released at 3:30 p.m. PST. Because of restrictive bidding conditions, industry participants were skeptical the volume would meet state expectations. The department is seeking electricity for varying terms starting Feb. 1 and up to 10 years.
  • 01/25/2001 -- Market watch, Jan. 25
    Most energy futures prices continued to soften on international markets Wednesday, with forecasts of warmer weather for most of the US over the next couple of weeks. The February natural gas contract bucked that trend, however, advancing 16.9� to $7.12/Mcf on technical trading.
  • 01/25/2001 -- Petrobras inks Trinidad exploration deal with Hydro
    Petrobras Trinidad Ltd. Wednesday inked a farmout agreement with Norsk Hydro AS for exploration Block 27 off Trinidad and Tobago. Under the deal, Hydro will acquire half of Brazilian state-owned Petrobras' 38% stake in the deepwater acreage, where water depths range from 700-1200 m. The first of two exploration wells on the block, awarded in 1998, is scheduled to be spudded in August/September.
  • 01/25/2001 -- Under protest, gas supplier says it fulfilled DOE order
    Fulfilling the requirements of a US Energy Department order, Western Gas Resources Inc. Thursday reported shipping 5,000 MMbtu/day of gas to Pacific Gas & Electric Co.(PG&E), which complained suppliers were threatening to suspend deliveries without cash payments. Western estimated it will have $2.2 million in total invoices outstanding under a terminated supply agreement with PG&E, including deliveries under the order.
  • 01/26/2001 -- Manning the controls
    Jeroen van der Veer recently admonished international oil companies to set their sights beyond classic supply and demand analysis in dealing with the volatility predicted to haunt crude prices for the foreseeable future.
  • 01/26/2001 -- Market watch, Jan. 26
    Energy futures prices rebounded slightly on international markets Thursday, as Abdullah Bin Hamad Al Attiya, Qatar�s energy minister, speculated about another production cut by the Organization of Petroleum Exporting Countries. OPEC members might consider another reduction at their March meeting if international oil prices fall too much, he said.
  • 01/26/2001 -- Reliant frets over spread of California utility credit problems
    Reliant Energy Inc. Friday asked federal regulators to stay a decision by the California Independent System Operator (ISO) to relax credit standards for utilities that buy power through the grid operator. Separately, the Houston energy company reported adjusted earnings for 2000 of $838 million, or $2.94/share, compared to $508 million, or $1.78/share, for 1999.
  • 01/26/2001 -- Electric Power news briefs, January 26
    Calpine Corp. ... Cogentrix Energy Inc. ... Caithness Coso Funding Corp. ... Southern California Edison Co. ... Rochester Gas & Electric Corp. ... US Justice Department ... National Energy Systems Co. ... AES Corp. ... Enron Corp. ... YF Power ... Fortis Inc. ... Belize Electricity Co. Ltd. ... Duke Energy
  • 01/29/2001 -- Market watch, Jan. 29
    Energy futures mostly advanced on international markets Friday, with home heating oil leading the rise on the New York Mercantile Exchange as traders squared their positions prior to the weekend. The February contract for home heating oil gained 1.55� to 84.56�/gal on the NYMEX.
  • 01/29/2001 -- Florida objects to Eastern Gulf lease sale
    Florida Gov. Jeb Bush has urged the US Interior Department not to hold Eastern Gulf of Mexico Lease Sale 181, although the tracts would be more than 100 miles from his state's shore. MMS proposed that the sale next December offer 1,033 blocks covering 5.949 million acres in the western portion of the eastern Gulf.

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