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      HOME  | GAS NEWS  | EVENTS  | JOBS  | BUSINESS CENTERS  | DIRECTORIES  | DATA CENTER    FRIDAY, FEBRUARY 1, 2002  	


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Complete table of contents and profile samples are available at http://www.energycentral.com/links/show_mi.cfm?id=100837         TOP STORIES     FERC drops Calif price reports amid US data review  WASHINGTON, Jan 31 (Reuters) The Federal Energy Regulatory Commission said Thursday it would stop requiring companies to report monthly California natural gas prices, saying the agency was reviewing what data it needed to monitor all U.S. energy markets.     Cold weather fuels near-record gas use in Calif.  SAN FRANCISCO, Jan 31 (Reuters) Unusually frigid temperatures in California pushed consumer demand for natural gas to near-record levels this week, Pacific Gas & Electric, the state's largest utility, said on Thursday.     Dynegy takes control of pipeline from Enron  By C. Bryson Hull, HOUSTON, Jan 31 (Reuters) Dynegy Inc. took control of the Northern Natural Gas pipeline on Thursday, pulling out of Enron Corp.'s hands half of the pipeline system on which its hopes of surviving bankruptcy are pegged.      Energy Security      Defense chief warns of threats far deadlier than Sept. 11 attacks   By ROBERT BURNS AP Military Writer, WASHINGTON, Jan 31, 2002 (AP WorldStream via COMTEX) -- Defense Secretary Donald H. Rumsfeld said Thursday the United States must prepare now for potential surprise attacks "vastly more deadly" than the Sept. 11 terrorist hijackings.      National Energy Policy      Agency to Sue to Get Records on Cheney's Energy Task Force  By Anne E. Kornblut, The Boston Globe, Jan. 31 Congressional investigators announced plans yesterday to sue the White House, pledging to take Vice President Dick Cheney to court to determine what role Enron Corp. and other energy lobbyists may have played in shaping administration policy.      Bush Not Asserting Privilege   By MARCY GORDON AP Business Writer, WASHINGTON, Jan 31, 2002 (AP Online via COMTEX) -- The Bush administration is arguing that the presidency would be harmed by the release of documents Congress' investigators are seeking - yet is not using the politically charged term "executive privilege."      Memo sheds light on Cheney-Enron links-report  SAN FRANCISCO, Jan 30 (Reuters) Former Enron Chairman Ken Lay handed U.S. Vice President Dick Cheney a memo last year that included suggestions resembling elements of the Bush administration's energy policy, the San Francisco Chronicle reported on Wednesday.          ADVERTISEMENT    Online marketplaces are driving an ongoing restructuring of Europe's energy industry, by making energy trading simpler and cheaper. A new report from Datamonitor, Online Energy Trading in Europe, explores the growing volume of trading operations in a liberalized market. http://www.energycentral.com/links/show_mi.cfm?id=100584          Mergers, Acquisitions & Divestitures      Williams Sells Three Texas Gathering Systems   TULSA, Okla., Jan. 31 /PRNewswire-FirstCall/ A unit of Williams has sold three natural gas gathering systems located in south Texas for $6 million.      ChevronTexaco Stays Mum about Speculation on Possible Bid for Conoco, Phillips  By Michael Davis, Houston Chronicle, Jan. 31 Conoco's stock rose almost $1 per share Wednesday after rumors circulated that ChevronTexaco Corp. may make a competing bid for either the Houston oil company or its merger partner, Phillips Petroleum Co.      Snam And Somicem to Be Merged with Eni  Jan 31, 2002 - FT World Media Abstracts via Comtex Snam, the Italian gas distribution company, and Somicem, the Italian oil exploration and production group, are to be merged within Italian oil group ENI.      Legislation/Regulation      Senate probe finds Enron uncooperative-Dorgan  WASHINGTON, Jan 31 (Reuters) - Enron Corp. has not cooperated with a Senate Commerce Committee inquiry into the energy trading firm's collapse, but former executives of the company have agreed to testify before the committee, said U.S. Sen. Byron Dorgan on Thursday.      Dems Focus on Enron Debacle   By DAVID ESPO, WASHINGTON, Jan 31, 2002 (AP Online via COMTEX) -- Seated in a circle, Democratic House leaders listening intently, former employees of Enron poured out the details of their layoffs, their depleted retirement savings, their bleak financial futures.      FACTBOX-Congress hearings schedule on Enron/Andersen  WASHINGTON, Jan 31 (Reuters) The following are the hearings which the U.S. Congress has firmly scheduled on the collapse of Enron Corp., its auditor Andersen, and related regulatory issues over the coming weeks. Latest items added are marked *.      Enron Political Spending Raises Debate   By JIM ABRAMS Associated Press Writer, WASHINGTON, Jan 30, 2002 (AP Online via COMTEX) -- A Senate-passed campaign finance bill due for a vote in the House would not stop corporations such as Enron from using big contributions to influence the political process, says a group opposed to the legislation.      Gas Pricing/Hubs      NYMEX Hub gas ends mixed, fronts gain with cash, temps  NEW YORK, Jan 31 (Reuters) NYMEX Hub gas ended mixed Thursday after some early buying, with front months propped by a firmer physical market and cooler Northeast and Midwest weather forecasts into early next week, sources said.      Outages, exports lift natgas prices in Alberta  CALGARY, Alberta, Jan 31 (Reuters) Spot natural gas prices rose in Alberta on Thursday because of stronger exports and minor field production problems while milder weather sank prices in the west, industry sources said.      Futures      Natural Gas Cash Firms with Rising March Futures, Cold Spell  Jan. 31 (Btu's Daily Gas Wire) The gains made in the futures market coupled with falling temperatures bolstered natural gas futures prices today. Special Offer from this Publisher!       Natural gas edges higher on cooler weather predictions   February 1, 2002 (TradeSignals via COMTEX) -- Natural gas futures edged higher in Thursday's session as short covering support underpinned improved trade.      Pipelines      Alaska Legislative Panel to Hire Gas Pipeline Consultants  Anchorage Daily News, Alaska, Jan. 29 Two consultants would be added to assist a legislative committee studying an industry proposal to build a natural gas pipeline from the North Slope to the Lower 48 under a plan approved Monday.      Kenai, Alaska, Pipeline to Connect New Gas Source  Anchorage Daily News, Alaska, Jan. 29 A $100 million pipeline planned along the Sterling Highway will bring natural gas to the southern Kenai Peninsula and add to the supply flowing north to serve the big markets in Anchorage and the Matanuska-Susitna Borough.      Denmark-Poland gas pipeline postponed 2 yrs as demand falls - Ritzau   COPENHAGEN, Jan 31, 2002 (AFX-Europe via COMTEX) -- The construction of a natural gas pipeline between Denmark and Poland has been postponed by at least two years because Poland will not buy as much North Sea gas as expected, newswire Ritzau's Bureau reported, citing sources at Dansk Olie & Naturgas (DONG).      Rates    For more information on rate tariffs visit Gas Rate Tariffs   [IMAGE]    Texas Natural-Gas Customers Enjoy Lower Heating Bills  By Dan Piller, Fort Worth Star-Telegram, Texas, Jan. 31 Baby, it's cold outside, but at least Texas homeowners can warm themselves with cheaper natural gas.      General      Bank of America Fires Three Employees Who Dealt with Enron  By Rick Rothacker, The Charlotte Observer, N.C., Jan. 31 Bank of America Corp. fired three employees who managed the firm's business with Enron Corp. after the Charlotte bank lost $231 million when the energy trader filed for bankruptcy court protection.      Enron Employee Aid Fund Raises Funds   By LISA FALKENBERG Associated Press Writer, HOUSTON, Jan 31, 2002 (AP Online via COMTEX) -- One of the funds to help laid-off Enron Corp. workers has taken in more than $396,000 in the past week, primarily from politicians and political groups donating campaign contributions they received from the energy giant before it filed for bankruptcy.      MSN high-speed plans delayed by Enron woes  NEW YORK, Jan 31 (Reuters) Microsoft Corp.'s Internet unit MSN said on Thursday its plans to sell high-speed access to homes would be delayed by the recent woes of energy giant Enron Corp.      Enron Developments at a Glance   By The Associated Press, Jan 31, 2002 (AP Online via COMTEX) -- Developments related to the Enron collapse and investigation:      Houston Coffee Bar Displays `Art Exhibit' of Former Enron Employees  By Daniel J. Vargas, Houston Chronicle, Jan. 31 Renoir it's not, but Enron is hot.      Deals/Contracts      Hidrocantabrico Signs Agreement with Eni Group  Jan 30, 2002 - FT World Media Abstracts via Comtex Spanish power utility Hidrocantabrico has reached an agreement whereby Italian group ENI will supply it with gas, according to sources from the Spanish company.      Legal      Judge to Tell Enron to Release Internal Report  By Eric Berger, Houston Chronicle, Jan. 31 A federal bankruptcy judge said Wednesday he will order Enron Corp. to release an internal report investigating its questionable partnerships and accounting practices.      States Tussle for Right to Be Lead Plaintiff in Class-Action against Enron  The Miami Herald, Jan. 31 The battle over Enron's assets is rapidly becoming a war between the states.      Lay Conviction Is Unlikely, Say Legal Analysts  By Bill Murphy, Houston Chronicle, Jan. 31 Legal experts differ on the viability of what appears to be shaping up as former Enron Chairman Ken Lay's defense -- that auditors, outside legal counsel and company executives kept him in the dark about the practices that led to the firm's collapse.      Houston Law Firm Cuts Ties with Enron  By R.G. Ratcliffe, Houston Chronicle, Jan. 31 The Houston law firm of Bracewell & Patterson has severed all ties with bankrupt Enron Corp., the law firm's managing partner said Wednesday.      People      Enron's Interim CEO Aims to Rebuild Company, Save Jobs  By Tom Fowler, Houston Chronicle, Jan. 31 Enron's new chief executive officer said he has no interest in finding out who's to blame for what went wrong at the energy giant, but will instead focus on revitalizing the business and preserving jobs.      Concerned Former Enron Employee's E-mail Landed Her in Human Resources  By Julie Mason, Houston Chronicle, Jan. 31 A one-time Enron Corp. manager who warned Chairman Ken Lay in August about questionable accounting practices was sent to human resources for a talk about employee morale, her attorney said Wednesday.      California Gubernatorial Candidate Returns Enron Donation  By Emily Bazar, The Sacramento Bee, Calif., Jan. 30 One week after asserting on live television that "I haven't gotten any money from Enron," Republican gubernatorial candidate Richard Riordan revealed Tuesday that his campaign has since returned a $500 campaign contribution to the beleaguered energy trader.      Interview: Rep. Greenwood vs. Enron   By KATHY A. GAMBRELL, Washington Reporter, WASHINGTON, Jan 30, 2002 (United Press International via COMTEX) -- Rep. James Greenwood, R-Pa., said his first emotion was anger when he heard Houston-based Enron Corp. had filed the largest bankruptcy action in history, leaving thousands of employees out of work and with virtually worthless retirement and pension accounts.      Enron board member temporarily resigns press watchdog job   LONDON, Jan 31, 2002 (AP WorldStream via COMTEX) -- John Wakeham, a prominent Conservative politician whose seat on the board of the disgraced Enron Corp. has made him the center of speculation about the corporate scandal's British links, temporarily stepped aside Thursday from his job as head of a press watchdog group.      Enron Executive Mourned in Hometown   By DUNSTAN PRIAL Associated Press Writer, AMITYVILLE, N.Y., Jan 30, 2002 (AP Online via COMTEX) -- J. Clifford Baxter, a former Enron executive who committed suicide as the scandal surrounding the bankrupt energy trading giant widened, was remembered Wednesday as a loving family man who died too young.      Wife Publicly Defends Former Enron CEO  By Alfred Lubrano, The Philadelphia Inquirer, Jan. 31 The wife of the extremely unpopular former CEO of Enron did the full Stand-By-Your-Man routine earlier this week, with tears.      Labor/Human Resources      Eight Employees File Racial-Bias Suit against South Carolina Electric & Gas  By Dave L'Heureux, The State, Columbia, S.C., Jan. 31 A lawsuit filed Wednesday in U.S. District Court alleges that South Carolina Electric & Gas Co. and its parent company, SCANA Corp., have long discriminated against black employees.      Former Enron Employees Take Case to Capitol  By Roma Khanna, Houston Chronicle, Jan. 31 Former Enron employees took their stories to Capitol Hill on Wednesday, asking lawmakers to seek remedies for their hardships as vigorously as they pursue ongoing congressional investigations.      Minneapolis Utility to Cut 500 More Jobs  By Tim Huber, Saint Paul Pioneer Press, Minn., Jan. 31 Electric and gas utility Xcel Energy said Wednesday it will cut another 500 jobs at its Minneapolis headquarters and elsewhere to further shrink costs since the merger of Northern States Power and Denver-based New Century Energies 18 months ago.      Financial      Enron, Others Found Delaware Inviting for Establishment of Subsidiaries  By Joseph N. DiStefano, The Philadelphia Inquirer, Jan. 31 To manage its far-flung financial interests, avoid local taxes, and shroud high-stakes deals from investor scrutiny, Enron Corp. organized a sprawling network of 2,000 corporate subsidiaries in 62 countries and 23 U.S. states.      Shadow Cast by Enron Debacle Extends over St. Paul, Minn.-Area Financial Firms  By Tim Huber, Saint Paul Pioneer Press, Minn., Jan. 30 The Enron debacle has unleashed a torrent of criticism about how badly most securities analysts misunderstood the Texas energy-trading company's finances and missed signs of its financial problems.      Enron's Deals Were Fraught with Financial Risks, Experts Say  Chicago Tribune, Jan. 31 Behind the murky bookkeeping and the razzle-dazzle marketing, Enron Corp. offered a simple sales pitch: Our crystal ball is better than everyone else's.      Enron Executive's Email Warned of Hidden Losses of At Least $500 Million  Chicago Tribune, Jan. 31 An internal Enron Corp. email sent from a mid-level manager to the company's board of directors warned last August of hidden losses totaling $500 million or more, false accounting practices and flagrant mismanagement within the doomed energy company's upper ranks.      CEO Statement Halts Free-fall of Tulsa, Okla., Energy Company's Stock  By Russell Ray, Tulsa World, Okla., Jan. 31 Shares of Williams Cos. Inc. fell below $15 Wednesday before executives stepped in to soothe the fears of nervous investors and restore confidence in the Tulsa company's stock.      Tulsa, Okla., Telecom Company Plagued by Former Parent Company's Poor Rating  By D.R. Stewart, Tulsa World, Okla., Jan. 31 Investors continued to be wary about Williams Communications Group Inc. stock Wednesday, a day after its former parent company announced it may be liable for up to $2.4 billion of the telecommunications company's debt and costs.      Enron probe may give Wall Street another black eye  By Brian Kelleher, NEW YORK, Jan 30 (Reuters) Wall Street jumped at the chance to invest in private offshoots of Enron Corp. before the high-flying energy trader's collapse, using investment banking ties to get in on the ground floor of deals that promised eye-popping returns.      El Paso Energy files $1 bln debt securities shelf  WASHINGTON, Jan 31 (Reuters) A unit of El Paso Energy Partners LP, one of the largest publicly traded master limited partnerships, filed with U.S. regulators on Thursday to sell over time up to $1 billion worth of capital and debt securities.      Major Accounting Reform Faces Strong Challenge from Industry  By Russell Grantham, The Atlanta Journal-Constitution, Jan. 31 Arthur Andersen's failure to warn of Enron's coming collapse is propelling efforts to ban practices that industry critics say have compromised the accounting industry's watchdog role.      Economy, Enron Debacle Pressure Surety Bond Market  By Jim Parker, The Post and Courier, Charleston, S.C., Jan. 30 Enron's financial collapse is leaking into the surety bond market, with insurers on the hook for $2 billion to pay off the energy trading giant's oil and gas futures contracts and carriers looking closer at raising rates and approving projects, whether in Houston or Charleston.      US accountants face new master from Enron backlash  By Kevin Drawbaugh, WASHINGTON, Jan 30 (Reuters) The cozy self-regulatory system that coddles U.S. corporate bean-counters looked headed for the shredder on Wednesday as lawmakers react to Enron's collapse and a wave of Wall Street accounting fears.      FORUM-World CEOs face up to insurance price hikes  By Bill Rigby, NEW YORK, Jan 31 (Reuters) Bosses at the World Economic Forum have a new gripe this year -- the shocking cost of insurance.      Financial - Ratings      RESEARCH ALERT - J.P. Morgan lowers Xcel Energy  NEW YORK, Jan 31 (Reuters) J.P. Morgan said on Thursday that it lowered its investment rating on Xcel Energy Inc. to "market perform" from "long term buy" and it is suspending its target price on the stock.      TEXT-S?cuts Petro-Canada senior unsecured rating  NEW YORK, Jan 31 - (Reuters) Standard & Poor's today lowered its ratings on Petro-Canada following the announcement of the company's C$3.2 billion debt-financed acquisition of the oil and gas operations of German-based Veba Oil & Gas GmbH.      Gas Natural higher as Goldman places on Recommended List   LONDON, Jan 31, 2002 (AFX-Europe via COMTEX) -- Shares in Gas Natural SGD SA opened higher in early trade in Madrid, as Goldman Sachs started coverage of the stock, placing it on its Recommended List, dealers said.      Financial - Results      Restated Earnings Mean Quarterly Loss for Anadarko Petroleum Corp.  By Nelson Antosh, Houston Chronicle, Jan. 31 Anadarko Petroleum Corp., one of the largest independent oil and gas companies, says it will have to restate its third-quarter earnings to include a $1.08 billion after-tax charge.      Quarterly Profits Drop at Virginia's RGC Resources  By Lois Caliri, The Roanoke Times, Va., Jan. 30 RGC Resources saw its first-quarter profits drop 54 percent as abnormally warm weather and a sluggish economy hurt the bottom line of its subsidiary, Roanoke Gas Co. officials said Tuesday.      WGL hits lowered profit target, forecast below Street  WASHINGTON, Jan 30 (Reuters) Washington, D.C.-based natural gas distributor WGL Holdings Inc. on Wednesday reported fiscal first quarter earnings in line with a lowered forecasts and reduced its outlook for the current quarter, blaming warm weather.      El Paso fourth-quarter earnings up slightly  HOUSTON, Jan 31 (Reuters) - El Paso Corp., North America's biggest natural gas pipeline operator, said Thursday fourth-quarter profits rose slightly despite weaker natural gas prices that caused it to lower its 2002 earnings projections.      Shell Canada profit down, Sable reserves cut  CALGARY, Alberta, Jan 31 (Reuters) Shell Canada Ltd. said on Thursday fourth-quarter profit fell 43 percent and Canada's No. 2 integrated oil firm also clawed back its reserve tally at the huge Sable gas project off Nova Scotia.      Tulsa, Okla.-Based Energy Giant Reports 2001 Income of $21.7 Million  By Rick Robinson, The Daily Oklahoman, Jan. 29 Williams Energy Partners L.P. announced 2001 net income Monday of $21.7 million, compared with $3 million in 2000.      Star Gas earnings fall on warmer-than-normal weather  STAMFORD, Conn., Jan 31 (Reuters) Star Gas Partners LP on Thursday said quarterly net income fell 35 percent as warmer-than-normal weather cut the use of heating oil, propane, natural gas and electricity.      International      Iran, Greece to cooperate on importing natural gas to the European Union   By ELENA BECATOROS Associated Press Writer, ATHENS, Greece, Jan 31, 2002 (AP WorldStream via COMTEX) -- Greece and Iran said Thursday they will cooperate to import Iranian natural gas into the European Union's energy market through an extension to the Iran-Turkey pipeline.        If you are an Energy Central News Subscriber and you have checked any news articles above, selecting the 'Get Articles' button below will deliver all of the checked articles in one page. This is a convenient way to get exactly the news you need - quickly!           NEED INFORMATION ON THE POWER INDUSTRY? ENERGY CENTRAL'S GOT IT!    JOB CENTER  The Job Center provides instant access to the best employment opportunities and prospective employees in the energy industry through comprehensive job listings and active resume database.  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