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Transportation 2001 P12

  • 04/30/2001 -- Simmons tells OTC world needs $5 trillion in energy investments
    The world's energy capacity must be boosted by 30% to provide a comfortable cushion of excess energy cushion, but that task will take decades and an estimated investment of $5 trillion, Matthew Simmons, president of Simmons & Co. International, told an Offshore Technology Conference luncheon Monday.
  • 04/30/2001 -- Davis: 'Guinness' conservation record needed this summer
    California Gov. Gray Davis Monday predicted the state will not emerge from its energy crisis until 2003. Furthermore, he said the only way for California to get through the coming summer without numerous blackouts will be to reduce electricity demand by 10% compared to last summer.
  • 04/30/2001 -- Volkswagen Brazil warns on electricity rationing
    With electricity rationing imminent, Volkswagen Brazil, an affiliate of Volkswagen AG, warned if Brazil's anticipated power shortages affect production it will move its plant to Argentina and export cars to Brazil from Argentina under the Mercosur trade agreement.
  • 05/01/2001 -- NGSA urges tighter FERC rules on gas pipelines' affiliate companies
    US gas producers have urged the Federal Energy Regulatory Commission to be more aggressive in the regulation of when regulating pipelines and their affiliates. They said FERC regulatory changes are needed to better reflect a more competitive gas industry in the post-restructured marketplace.
  • 05/01/2001 -- OTC told privatized Statoil won't be old firm in 'a new dress'
    The partial privatization of Norwegian state oil firm Statoil "will not be Statoil in a new dress," according to Norway Deputy Minister of Petroleum and Energy Bjørg Sandal. On Apr. 26, the Storting approved a proposal to offer up to a third of Statoil for private ownership and to list the company on the stock exchange.
  • 05/01/2001 -- Reliant Resources goes public at $30/share
    Fueled by rising prices and demand for electricity, Reliant Resources, Inc. stock Tuesday rose 12.03% to $33.61/share, after an initial public offering Monday priced at $30/share. The offering price was raised several times reflecting strong investor interest in new energy issues in an otherwise weak new issues market.
  • 05/01/2001 -- Mid-America pipeline ruptures north of Kansas City
    Williams said Tuesday afternoon a fire that resulted from a rupture on a pipeline north of Kansas City, Mo., was under control and essentially out. The 10-in. section of the Mid-America Pipeline carries ethane and propane from Conway, Kan., into Iowa City, Iowa, and central Illinois.
  • 05/02/2001 -- BG's Chapman says politicians hamper European gas liberalization
    BG Group PLC Chief Executive Frank Chapman Tuesday criticized politicians intent on safeguarding their countries' gas markets from competition for impeding the European liberalization program. He said the "fear factor" caused European politicians not to press for fast-track deregulation at the Gas Directive II meeting in Stockholm.
  • 05/02/2001 -- Statoil sells Viet Nam operations to unnamed buyer
    Norwegian state-owned oil and gas company Statoil AS said Wednesday it will sell its Viet Nam operations, including the group's stake in the BP PLC-operated Nam Con Son project, to an unnamed buyer. Statoil said the sale is in line with its upstream strategy to sell assets not in its core areas.
  • 05/02/2001 -- Mid-America pipeline repairs break near Kansas City
    Williams said Wednesday that it had repaired a ruptured section of a pipeline spur north of Kansas City, Mo. The cause of the accident has not been determined. It The incident occurred between Platte City, Mo., and Weston, Mo., on a 10-in. section of the Mid-America Pipeline that carries ethane and propane.
  • 05/02/2001 -- OTC panel says producers, service firms must cut deepwater costs
    More collaboration between producers and service companies will be needed to reduce costs as the worldwide search for oil and natural gas moves into deeper waters, a panel of industry executives said Tuesday in a general session on ultradeep operations at the Offshore Technology Conference in Houston.
  • 05/03/2001 -- US GAO says Pipeline Safety Fund accounting needs retooling
    The General Accounting Office this week told Congress the US Department of Transportation's Office of Pipeline Safety needs better accounting methods; DOT "generally" agreed with the agency's findings and told GAO it is updating data collection via a new internet-based system.
  • 05/03/2001 -- Shell records best-ever earnings for fifth consecutive quarter
    The Royal Dutch/Shell Group Thursday reported record earnings for the fifth quarter in a row. The group's adjusted earnings were nearly $3.9 billion, 23% higher than those of a year ago, on the back of higher gas prices, higher refining margins, and increased liquefied natural gas volumes.
  • 05/03/2001 -- Deep water, gas, and 'digitalization' emphasized at OTC
    The 33rd annual Offshore Technology Conference in Houston this week focused on the industry's movement into ultradeepwater operations beyond 5,000 ft, its growing emphasis on natural gas, and the accelerated "digitalization" of upstream operations through computer interconnections, said Wolfgang E. Schollnberger, chairman.
  • 05/03/2001 -- California natural gas prices to be taken up by FERC
    Under fire from California lawmakers, Federal Energy Regulatory Commission members agreed Thursday natural gas is emerging as key to the power price problems plaguing the state. Commissioners testified before the Senate Committee on Energy and Natural Resources which was seeking clarification of FERC's Apr. 26 order instituting price caps on certain wholesale transactions in California.
  • 05/04/2001 -- Bush says conservation alone is not sound energy policy
    President George W. Bush told reporters Thursday that America's energy woes cannot be solved by conservation alone. He said the American people need to understand that US energy supplies are depleting. The administration is due to send Congress its energy policy proposals in mid-May.
  • 05/07/2001 -- PJM forecasts 17.7% reserve margin for summer
    PJM Interconnection Inc., the grid operator serving the mid-Atlantic states, is forecasting a 17.7% reserve margin this summer, including firm electricity imports and assuming all units are operating. However, the reserve margin dips to a single digit 9% when a 9% historic outage rate at the summer peak is included.
  • 05/07/2001 -- California could face rolling blackouts Monday
    With demand for air conditioning climbing, California could experience rolling blackouts Monday evening and just barely escaped outages Monday morning, Jim McIntosh, director of operators for the California Independent System Operator, said on a conference call. McIntosh said he is 1,000 Mw short of power to supply the peak, unless Californians leave the air conditioning off after they get home from work.
  • 05/08/2001 -- Transportation news briefs, May 8
    Sinochem ... Global Offshore Mexico ... PEMEX ... Maritimes & Northeast Pipeline ... Duke Energy Gas Transmission ... Florida Gas Transmission ... eCORP Holding ... Statoil ... Pipeline Power Partners ... Litton Avondale Industries ... Texas Railroad Commission
  • 05/08/2001 -- BC Gas calls open season on BC pipeline
    BC Gas Utility Ltd., Vancouver, BC, has called an open season for interested parties on its proposed $495 million (Can.) Inland Pacific Connector Pipeline. The line would connect the Southern Crossing Pipeline in Oliver, BC, to a regional marketing hub at Huntingdon. Subject to regulatory approvals, BC Gas says the line could be in service by late 2003.
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