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Transportation 2001 P7

  • 03/06/2001 -- Finance/Companies news briefs, Mar. 6
    Pogo Producing � Promax Energy � Avid Oil & Gas � Benton Oil & Gas � APF Energy Trust � Alliance Energy � Hunt Oil � Berkley Petroleum � Anadarko � Magin Energy � Tipperary � Osinerg � Pluspetrol Peru
  • 03/06/2001 -- Con Ed files with FERC to correct alleged market power abuse
    Consolidated Edison Co. of New York filed Mar. 1 with federal regulators requesting additional measures be adopted to protect against alleged market power abuse by generators in New York City. The utility sold off its generation as part of restructuring 2 years ago and must buy power on the wholesale market to serve customers. After the law was passed, Consolidated Edison said it identified loopholes in measures intended to protect against market power that could lead to excessive prices.
  • 03/07/2001 -- Clarkson predicts banner business for tankers will continue this year
    Clarkson Research Studies, London, reports earnings for oil tankers have doubled and last summer tanker rates hit levels not seen for 30 years. It said the fundamentals are strong enough to carry the market through another good year.
  • 03/07/2001 -- Annan: 'Depoliticize' Iraq oil-for-food scheme
    The United Nations Security Council Thursday will consider a report by UN Sec. Gen. Kofi Annan released yesterday in which he urges "all those concerned" in the Iraq oil-for-food program to "depoliticize" the humanitarian scheme. Annan said that though the program was put in place within the framework of a sanctions regime, it was "essential to depoliticize and facilitate the implementation of the program in order to alleviate the continued suffering of the Iraqi people."
  • 03/07/2001 -- EIA: Gas demand to slow, but prices stay strong
    US government forecasters expect gas demand to slow this year, but prices are expected to remain strong on weak storage refill numbers. The US Energy Information Administration (EIA) expects gas in storage to reach 689 bcf by Mar. 31. Such an end-season level would be the lowest ever recorded by EIA. Dave Costello, author of the agency's monthly short-term energy forecast, said the shortfall will be all but impossible to make up between now and the start of the 2001 heating season.
  • 03/07/2001 -- EIA says gas storage refill unlikely before winter
    US government forecasters expect gas demand to slow this year, but prices are expected to remain strong on weak storage refill numbers. The US Energy Information Administration (EIA) expects gas in storage to reach 689 bcf by Mar. 31. Such an end-season level would be the lowest ever recorded by EIA. The agency's monthly short-term energy forecast said the shortfall will be all but impossible to make up between now and the start of the 2001 heating season.
  • 03/08/2001 -- Sunlaw pulls California power plant after referendum
    In a blow to California Gov. Gray Davis's hopes of speeding up power plant construction, Sunlaw Energy Corp. Wednesday asked state regulators to suspend licensing for the proposed 550 Mw Nueva Azalea electric generating station. Despite blackouts in northern California in January and predictions of possible widespread power shortages this summer, voters in the city of Southgate, a Los Angeles suburb, opposed the project in a Tuesday referendum.
  • 03/08/2001 -- El Paso: LNG terminal land site preferable; off shore possible
    El Paso Corp. hopes to announce 'within months' a proposed site for an LNG terminal on the US West Coast, said Kathleen Eisbrenner, senior managing director, Global LNG, an El Paso unit. El Paso Thursday said it tentatively agreed to begin purchasing LNG in 2005 from an export terminal Phillips Petroleum Co. will build near Darwin, Australia, with plans to ship it to California or Mexico. The company is reviewing land-based sites but has a contingency plan for an offshore facility, she said.
  • 03/09/2001 -- El Paso eyes options for West Coast terminal to import LNG
    El Paso Corp. hopes to announce "within months" a proposed site for an LNG terminal on the West Coast. El Paso and Phillips Petroleum Co. plan to begin shipping LNG from Australia to California markets in 2005. El Paso would build a terminal in California or Mexico but has a contingency plan for an offshore facility.
  • 03/09/2001 -- Lakehead to acquire Enbridge�s North Dakota pipelines
    Directors of Lakehead Pipe Line Partners LP have approved the acquisition of the North Dakota pipeline system of Enbridge Inc. for $33 million in cash. Enbridge's directors have also approved the transaction. The deal will close May 1, subject to regulatory approval.
  • 03/09/2001 -- Chinese firm raising funds for 1,247-mile products pipeline
    China National Petroleum Corp. has authorized its subsidiary Petroleum Longchang Group to raise funds to build a 1,247-km oil products pipeline. Longchang is expected to raise 189.54 million yuan for the line, which will carry products from PetroChina's refineries in Lanzhou to Chongqing.
  • 03/09/2001 -- FERC approves Stagecoach storage project in New York state
    The US Federal Energy Regulatory Commission has granted Central New York Oil & Gas Co. LLC permission to build, own, and operate a 12 bcf natural gas storage project near Oswego, NY. The Stagecoach project�s maximum injection rate would be 250,000 dekatherms/day and its maximum withdrawal rate 500,000 dekatherms/day.
  • 03/13/2001 -- Statoil gets larger share of Baltic lubricants market
    Statoil AS advanced its Chief Executive Olav Fjell's stated aim to become a dominant player in the Baltic States' lubricants market with the announcement Tuesday that it had inked a production and sales deal with compatriot Pemco AS covering Estonia, Latvia, and Lithuania
  • 03/13/2001 -- Turkey signs deal to buy Azerbaijani gas through new line
    The US government Monday praised an agreement that would allow Turkey to buy the 233 billion cu ft/year of gas, beginning in 2004, from Azerbaijan�s Shah Deniz field. The deal would require construction of an export pipeline.
  • 03/14/2001 -- Electricity cable linking UK, France opened up
    Operators of the single electricity submarine cable linking the UK and France agreed to open up access to the infrastructure used for electricity export and import between the two countries, following European Commission concerns. Up to now, the 15-year-old interconnector was used by Electricite de France to export power to the UK. The interconnector, with a total capacity of 2,000 Mw in either direction, is owned by the operators of the electricity networks of England, Wales, and France.
  • 03/14/2001 -- FERC okays Guardian pipeline, Southern Natural expansion
    The US Federal Energy Regulatory Commission Wednesday approved the Guardian Pipeline Co. proposal to build a 141-mile, 36-in. system to carry up to 750 MMcfd from the Chicago hub near Joliet, Ill., to Ixonia, Wis. It also approved Southern Natural Gas Co.�s plan for a 73-mile loop of its system in South Carolina and Georgia.
  • 03/14/2001 -- Application renewed for Alaska natural gas pipeline
    Alaskan Northwest Natural Gas Transportation Co. is renewing its application for right-of-way across 235 miles of Alaska state lands for a proposed natural gas pipeline route that would parallel the Alaska Highway.
  • 03/15/2001 -- FERC rejects Southern RTO, approves GridSouth
    Federal regulators Wednesday rejected Southern Co. Services Inc.'s proposed regional transmission organization (RTO) and provisionally approved GridSouth, the for-profit regional system proposed by Duke Energy Corp., Carolina Power & Light Co., and South Carolina Electric & Gas. Co. In its order, the Federal Energy Regulatory Commission asked Southern to submit a report on its progress in forming a Southeastern RTO and GridSouth on its success in expanding the scope of the proposed RTO.
  • 03/15/2001 -- El Paso delays startup of repaired gas line
    El Paso Natural Gas Co. has again delayed a 2-day test , scheduled for Friday and Saturday, of a 30-in. natural gas pipeline that ruptured and exploded Aug. 19 near Carlsbad, NM, killing 12 persons.
  • 03/15/2001 -- California ISO adopts cost-based price caps for each generator
    Despite doubts the plans will pass muster with federal regulators, the board of the California grid operator Thursday adopted a scheme subjecting wholesale electricity transactions to price caps on a plant-by-plant basis. The plan also sets up a day-ahead power market operated by the California Independent System Operator (ISO) and gives the ISO the power to curtail electricity exports during emergencies.
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