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Transportation 2001 P5

  • 02/08/2001 -- Calpine buys exploration company with 1 tcf of gas reserves
    Electricity producer Calpine Corp., San Jose, Calif., plans to acquire all the common shares of Encal Energy Ltd., a Calgary-based exploration company, in a stock-for-stock exchange worth about $1.2 billion (US), including Encal debt. The California company said it will gain about 1 tcf equivalent of proved and probable natural gas reserves, net of royalties.
  • 02/08/2001 -- California ISO projects huge power shortfall
    With summer approaching, the California Independent System Operator is tentatively forecasting a June shortfall of 6,815 Mw during peak loads, enough electricity to power roughly 6.8 million homes. The prospect of such catastrophic outages is 'unbelievable,' says Ed Krapels, director of gas and power for Energy Security Analysis Inc. 'That's an amazing number.'
  • 02/08/2001 -- California ISO projects 6,815 Mw June shortfall
    With summer approaching, the California Independent System Operator (ISO) is tentatively forecasting a June shortfall of 6,815 Mw during peak loads, enough electricity to power roughly 6.8 million homes. The prospect of such catastrophic outages is 'unbelievable,' says Ed Krapels, director of gas and power for Energy Security Analysis Inc. 'That's an amazing number.'
  • 02/09/2001 -- Explorer Pipeline considering 100,000 b/d capacity expansion
    Explorer Pipeline Co., Tulsa, plans to expand its main line between Houston and Chicago by at least 100,000 b/d before late 2002. The products pipeline moves 560,000 b/d of gasoline, diesel fuel, and jet fuel through a 28-in. line from Houston to Tulsa. It moves 350,000 b/d on to Chicago through a 24-in. line.
  • 02/12/2001 -- DOT opens hearing on risks from smaller pipeline systems
    The US Department of Transportation's Research and Special Programs Administration opened 3-days of hearings Monday in Arlington, Va., on initiatives to improve natural gas pipeline integrity management in high consequence areas, and all pipelines' communications with the government and public.
  • 02/14/2001 -- Anderson Exploration quadruples fourth quarter earnings
    Anderson Exploration Ltd., Calgary, says it quadrupled net earnings in the fourth quarter 2000 to $174 million (Can.) from the same period a year earlier. Anderson, now Canada�s fifth largest exploration and production firm after several recent acquisitions, forecast strong performance in 2001 based on continuing high natural gas prices and strong demand.
  • 02/14/2001 -- Union Fenosa chooses M.W. Kellogg to design Spanish LNG terminal
    Spanish utility Union Fenosa has awarded M.W. Kellogg Ltd., the London affiliate of Halliburton Co.'s Kellogg Brown & Root, a contract to provide basic engineering design for a proposed liquefied natural gas receiving terminal.
  • 02/14/2001 -- Energy demand shifts to gas from oil, coal
    Driven by power generation, gas is the key beneficiary of a shift in global energy demand away from oil and coal, says Bernard de Combret, president of TotalFinaElf SA's gas and power trading unit. But de Combret said oil should not be discounted as a fuel safety valve when gas demand becomes overheated, especially in the US, where gas supplies are increasingly tight.
  • 02/14/2001 -- OPEC president raises question on inventory carrying cost
    Who pays the carrying costs of oil inventory could be a question OPEC grapples with in the future, Chakib Khelil, OPEC president and Algeria's Minister of Energy and Mines, said Wednesday. Drawing a parallel with electricity markets, Khelil observed at the Cambridge Energy Research Associates conference, power generators get paid for keeping standby capacity�or spinning reserves�available which can be called upon at the last minute.
  • 02/15/2001 -- LPG tanker aground off Yarmouth; no leaks reported
    The Singapore-registered LPG tanker Kilgas Centurion ran aground early Thursday morning off the southeast coast of England, but was not leaking, according to a report from the UK Maritime and Coastguard Agency. The 81-m long, 2,169 gross ton vessel was en route from Teesport to the Thames when the accident occurred north of Yarmouth. It was carrying 1,025 tonnes of liquid propane gas, 155 tonnes of diesel fuel, and 45 tonnes of gas/oil,
  • 02/15/2001 -- Alaska Gov. Knowles says votes insufficient for ANWR leasing bill
    Alaska Gov. Tony Knowles said Wednesday that there's not enough congressional support to pass legislation allowing development of the Arctic National Wildlife Refuge (ANWR) coastal plain. President George W. Bush plans to make ANWR leasing a keystone of his forthcoming energy policy.
  • 02/15/2001 -- General Interest news briefs, Feb. 15
    Nabors Drilling USA � Arabian Oil Co. � AES � BP � Minerals Management Service
  • 02/16/2001 -- Canada's NEB says survey supports tighter pipeline rules
    The Canadian National Energy Board has taken another step toward tighter pipeline safety regulations. NEB released the results of a survey conducted last fall on the proposed rules, called the Damage Prevention Regulations, that are targeted at preventing damage to pipelines under NEB jurisdiction.
  • 02/16/2001 -- Maritima sues Petrobras over Amethyst cancellations
    Brazilian company Maritima Petroleo e Engenharia Ltda., which had contracts for the construction of semisubmersibles and drilling wells canceled by Petroleo Brasileiro SA (Petrobras) is suing for $3 billion in Brazil and UK courts. Petrobras said the contracts were canceled due to delay in the delivery of the contracted equipment.
  • 02/19/2001 -- California plans transmission buyout; generators still under order
    As expected, California Gov. Gray Davis reported Friday the state is negotiating with the near bankrupt electric utilities to buy their transmission lines. The plan is intended to give the utilities a cash infusion so they can pay debtors and buy power to serve customers. Also, a Sacramento federal judge extended a temporary restraining order for another 5 days forcing generators to continue providing power, even though they aren't getting paid for it. A hearing is scheduled Wednesday.
  • 02/20/2001 -- Statoil CEO says strategic restructuring on track for year-end
    Olav Fjell, CEO of Statoil AS, will report that the top-to-bottom restructuring launched by the Norwegian oil and gas giant 3 years ago is on track to be completed by the end of the 2001, when he announces the group's full-year results later this week. Fjell said the company expected to meet the targets that were set as part of its four-prong "strategic response" to profit-damaging overexpansion by the company during the 1990s "on time."
  • 02/20/2001 -- India studies pipeline routes to import Myanmar gas
    In a bid to diversify its energy supplies, India is sending a delegation to Myanmar to identify possible gas pipeline routes. Jaswant Singh, India's External Affairs Minister, recently visited Myanmar to discuss cooperation in the gas sector.
  • 02/21/2001 -- FERC approves Gulfstream gas pipeline to Florida
    The US Federal Energy Regulatory Commission Wednesday approved the construction of the $1.7 billion Gulfstream gas pipeline from Mobile Bay, Ala., across the Gulf of Mexico to central Florida. It will be the largest pipeline construction project yet in the gulf. Completion is due in 2 years.
  • 02/22/2001 -- Parco proceeds with plans for Pakistani products pipeline
    Pak Arab Refinery Co. Ltd. (Parco) has awarded China Petroleum Engineering & Construction Corp. a letter of intent to build an 817-km products line from its refinery at Mehmood Kot in Punjab province to Karachi's Port Qasim.
  • 02/22/2001 -- Westcoast reports earnings surge
    Westcoast Energy Inc., Vancouver, BC, reports a 53% increase in 2000 earnings over 1999 to a record $340 million (Can.) on revenue of $8.95 billion. Michael Phelps, CEO of the gas pipeline company, said Westcoast had significantly improved results from its energy marketing division, Union Energy, from new pipelines it is operating, and international operations.
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