INDUSTRY BRIEFS

04/24/2000
FuturesThe New York Mercantile Exchange will launch on May 4 a Middle Eastern sour crude oil futures contract based on the reported average prices of Oman and Dubai crude oils. The contract unit will be 1,000 bbl, and it will be the exchange's first cash-settled energy contract. Delivery points will be normal export-quality Dubai oil delivered FOB at the Fateh terminal in Dubai and Omani oil delivered FOB at the Mina al Fahal terminal in Oman.PowerEnron North America Corp.,Houston, and Peoples Energy Corp., Chicago, will jointly develop at least 800 Mw of new natural gas-fired power generation in the Chicago area to serve that growing market. Through a joint venture, Calumet Power LLC...
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