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General Interest 2002 P10

  • 01/31/2002 -- El Paso cuts 2002 earnings projections on lower gas prices
    Pipeline operator and energy marketer El Paso Corp. reported 2001 earnings of $93 million, or 18¢/share, after a $1.6 billion nonrecurring charge for its merger with Coastal Corp. and other items. The company lowered its 2002 earnings projections to $3.30-$3.45/share from $3.40-$3.55/share on lower than expected gas prices.
  • 01/09/2002 -- Electric Power news briefs, Jan. 9
    PNM Resources Inc. ... Western Resources Inc. ... PJM Interconnection LLC ... SeTrans ... Idaho Power Co. ... Astaris LLC ... Williams Cos. Inc. ... Reliant Energy ... Black & Veatch Corp. ... H.B. Zachry Co. ... Grupo Generador de Guatemala y Cia SCA ... Andersons Inc. ... FirstEnergy Solutions
  • 01/03/2002 -- Shell top bidder on LNG capacity at El Paso's Elba Island facility
    Shell Gas & Power, a unit of Royal Dutch/Shell Group, acquired rights to all the additional storage capacity El Paso Corp. is planning at the Elba Island liquefied natural gas (LNG) terminal near Savannah, Ga. Shell offered the highest of four bids at an auction for 3.3 bcf of new storage capacity at the terminal.
  • 01/08/2002 -- Bond market improves slightly for energy companies
    Energy marketers appear to be recovering from December's panic attack brought on by Enron Corp.'s unexpected collapse, analysts said Tuesday. Companies are finding it easier if still somewhat expensive to raise money in the bond market, especially to pay down debt.
  • 01/17/2002 -- Kinder Morgan raises 2002 earnings estimates
    Kinder Morgan Inc., in a difficult year for the economy and particularly for energy companies, reported 2001 earnings of $225.2 million or $1.96/share on revenue of $1.1 billion, beating analysts' expectations of $1.90/share. The company increased 2002 earnings guidance to $2.55-$2.65/share from $2.40-$2.50/share.
  • 01/16/2002 -- Electric Power news briefs, Jan. 16
    Williams ... Duke Energy ... Sempra Energy ... PG&E Corp. ... Proxima Gas SA de CV ... Wisconsin River Power Co. ... WPS Resources Corp. ... Alliant Energy ... TXU Europe ... MidAmerican Energy Co. ... Aquila ... NiSource ... AES NewEnergy ... Consolidated Edison ... Enron ... Fluor Corp. ... TECO Energy Inc. ... Cedars Rapids Transmission Co. ... SaskPower International ... BP ... ChevronTexaco
  • 01/30/2002 -- Williams shares recoup some losses after morning sell off
    Shares of pipeline operator and energy trader Williams Cos. Inc. recovered some Wednesday afternoon after the company said it was committed to maintaining an investment grade credit rating. The shares were down 3.9% to $18.05 in heavy trading, after being halted at $16.15, a 14% decline earlier in the day.
  • 01/21/2002 -- Interest wanes in California pipeline projects with slide of natural gas prices
    Some companies that rushed to announce new gas pipelines to serve a booming California market last winter have quietly put the projects on the back burner.
  • 12/30/2002 -- Raymond James: 2003 E&P spending to rise more than 20% from last year
    Despite recent surveys revealing that exploration and production companies' worldwide E&P spending for 2003 will be flat to slightly elevated compared with last year, a recent research note released by Raymond James & Associates Inc. stated that outlays would in fact likely be more than 20% higher than originally anticipated.
  • 12/30/2002 -- Market watch: OPEC's preparedness to increase output staves off oil futures price increase
    The continuing general strike in Venezuela as well as the looming threat of war against Iraq again forced futures prices for oil and petroleum products higher Friday on the New York Mercantile Exchange. But any gains made quickly were lost early Monday following the announcement by the Organization of Petroleum Exporting Countries that it was prepared to increase output to make up for any lost production, the Associated Press reported.
  • 12/27/2002 -- Gas de France to acquire Germany's Preussag Energie
    Gas de France will acquire Lingen, Germany-based Preussag Energie GMBH, an affiliate of TUI AG, for nearly one billion euros. TUI said it is selling the unit to refocus on its tourist business.
  • 12/27/2002 -- Market watch: Venezuela and Iraq continue to boost oil prices
    Futures prices for oil and petroleum products continued to rise Thursday on the New York Mercantile Exchange as the general strike in Venezuela raged on, and US and UK forces struck military targets in Iraq.
  • 12/26/2002 -- Brazil to swap gasoline to fuel-starved Venezuela
    In a swap for future crude oil deliveries from Venezuela, Petroleos Brasileiro SA has agreed to provide 520,000 l of gasoline to Petroleos de Venezuela SA now to relieve the fuel shortage caused by a general strike that has virtually shut down Venezuela's national oil company.
  • 12/26/2002 -- Lawmaker urges DOE to tap SPR
    House Energy and Commerce Committee Chairman Billy Tauzin (R-LA) said the George W. Bush administration should release crude oil from the Strategic Petroleum Reserve because of current international oil market conditions.
  • 12/26/2002 -- Market watch: Supply concerns push oil futures prices to 2-year highs
    Oil futures prices continued a pre-Christmas rally this week, hitting 2-year highs on fears of disruption of crude supplies from Venezuela and Iraq.
  • 12/23/2002 -- Court blocks exploration near Utah's Arches National Park
    A Washington, DC, federal court temporarily blocked exploration on public land bordering Utah's Arches National Park pending an environmental review.
  • 12/23/2002 -- France opens gas supply competition
    France's parliament Friday finally turned the European Union directive on natural gas liberalization into local law, opening 20% of the French gas market to competition.
  • 12/23/2002 -- Nigeria proposes new penalties for oil pollution
    Nigerian lawmakers are working out proposals to establish a national oil spill contingency plan and to implement new penalties aimed at discouraging oil spills, OPEC News Agency reported.
  • 12/23/2002 -- CMS Energy sells wholesale trading, gas pipeline units
    CMS Energy Corp. reached an agreement Monday to sell its interstate natural gas pipeline unit, CMS Panhandle Cos., and that business unit's accompanying subsidiaries to Southern Union Panhandle for $1.828 billion.
  • 12/23/2002 -- Brazil names new energy minister
    Brazil's President-elect Luiz Inácio Lula da Silva on Friday named Dilma Rousseff, a former energy secretary of southern Rio Grande do Sul state and a member of his Workers' Party (PT), as the new mines and energy minister.
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