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      HOME  | GAS NEWS  | EVENTS  | JOBS  | BUSINESS CENTERS  | DIRECTORIES  | DATA CENTER    TUESDAY, JANUARY 15, 2002  	


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Protect your company's assets and resources with the essential information in this report. http://www.energycentral.com/links/show_mi.cfm?id=100838         TOP STORIES     FERC's Brownell: Quick action needed in El Paso case  By Chris Baltimore, WASHINGTON, Jan 14 (Reuters) The Federal Energy Regulatory Commission should "expeditiously" wrap up its investigation into whether El Paso Corp. manipulated the California natural gas market last winter to inflate prices by billions of dollars, a FERC commissioner said.     Canadian energy profit gusher to slow to a trickle  By Jeffrey Jones, CALGARY, Alberta, Jan 14 (Reuters) Canada's energy companies are expected to pump out their weakest quarterly results in two years due to slumping oil and gas prices, with warnings from Talisman Energy Inc. and Suncor Energy Inc. already setting the tone.     Pertamina to talk gas sales with Malaysia's Petronas  JAKARTA, Jan 14 (Reuters) Indonesian state oil firm Pertamina said on Monday it planned to hold talks in Kuala Lumpur later this month with its Malaysian counterpart about natural gas sales from fields in the South China Sea.      Press Release      TransFormance Group Study Highlights Pitfalls For Australian Electricity Suppliers In State Of Victoria  Morristown, New Jersey - 14th January, 2002 Energy companies in Australia's State of Victoria face significant new challenges in meeting customer expectations as full retail contestability (FRC) comes into effect on 1st January 2002. That's the finding of new research by Transformance Group, who found that over 80% of Victorian consumers are aware of FRC and hope for significant reductions in electricity prices as a result of increased competition.      THOMAS M. RAY III NAMED PRESIDENT AND GENERAL MANAGER OF KWI NORTH AMERICA  HOUSTON (January 14, 2002) KWI, a leading supplier of trading and risk management systems for the energy market, has hired Thomas (Trip) M. Ray III as president and general manager of the company's North America operations.      Mergers, Acquisitions & Divestitures      Merger Talk: Oil majors poised to bridge energy divide  NEW YORK, Jan 14 (Reuters) - Big oil is limbering up for a push into the brave new world of deregulated power, in a move to reinforce its already strong grip on the energy business.      ENI says Italgas is strategic, will not be sold   MILAN, Jan 14, 2002 (AFX-Europe via COMTEX) -- ENI SpA chief executive Vittorio Mincato said that Italgas SpA is a strategic asset and the group does not intend to sell its controlling 41.15 pct stake.      Totalfina Elf to Bid for Conoco  Jan 14, 2002 - FT World Media Abstracts via Comtex The French oil group TotalFina Elf is planning to launch a bid for the US energy company Conoco in order to prevent this entity from merging with fellow-American Phillips Petroleum Co, the UK press alleged yesterday.      Essent Eyes Gasunie Trade Company  Jan 14, 2002 - FT World Media Abstracts via Comtex Essent, the Dutch energy company, would like to join forces with the trade company of Dutch gas company Gasunie.          ADVERTISEMENT    Gain the competitive intelligence you need to make informed business decisions. Energy Central's Operating Plant Experience Code (OPEC) is a must for all aspects of analyzing nuclear power plant performance. Identify causes of poor performance, compare lost generation trends, and set performance criteria! Free trial - visit http://www.energycentral.com/sections/databases/OPEC          Legislation/Regulation      Senate banking committee says sets hearing on Enron  WASHINGTON, Jan 14 (Reuters) The powerful Senate Banking Committee said on Monday it will hold a Feb. 12 hearing on Enron Corp., the energy trading giant whose bankruptcy filing last year threw thousands out of work, devastated investors and raised questions about its accounting practices.      Ferc's Proposed Affiliate Rule Creates Confusion, Alarm  Jan 14, 2002 - Oil & Gas Journal The US Federal Energy Regulatory Commission's proposal to apply the electric industry discount standard to natural gas pipeline transactions is creating both confusion and opposition in the industry.      Gas Pricing/Hubs      Canadian spot natgas mixed, Alberta eases slightly  NEW YORK, Jan 14 (Reuters) Canadian spot natural gas prices were mixed Monday, with Alberta values easing slightly as a glut of gas in storage continued to exert a bearish influence on the market, industry sources said.      NYMEX Hub gas ends higher, gains limited by weather  NEW YORK, Jan 14 (Reuters) NYMEX Hub gas, lifted by some short covering, ended higher on Monday, but traders said the upside was limited by fairly moderate weather forecasts this week and concerns about excess gas in inventory.      NYMEX gives U.S. day-ahead natural gas small lift  SAN FRANCISCO, Jan 14 (Reuters) U.S. spot natgas moved a touch higher Monday, lifted by an early short covering rally on NYMEX despite mild weather across most of the nation.      Drilling/Exploration      Bush Wants Drilling off Santa Barbara, Calif.-Area Shores Without State's OK  By Mark Van De Kamp, Santa Barbara News-Press, Calif., Jan. 13 The showdown over developing 36 controversial oil and natural gas leases off Santa Barbara County's shores is heating up again.      CNOOC, Shell sign production sharing contract for Bohai Bay   HONG KONG, Jan 14, 2002 (AFX-Asia via COMTEX) -- CNOOC Ltd said its parent China National Offshore Oil Corp and Shell Exploration China Ltd have signed a production sharing contract for the exploration of the Bonan area of Bohai Bay, northwest of Longkou in China.      Futures      Feb Futures Edges Higher amid Non-Commercial Short Covering  Jan. 14 (Btu's Daily Gas Wire) February natural gas futures settled 4.6 cents higher at $2.25 as short covering dominated today's trading session and bolstered the nearby month as high as $2.325, a 12.1-cents rise, said traders. Special Offer from this Publisher!       Pipelines      Economy Minister announces gas pipeline expansion   Jan 14, 2002 (New World Publishing via COMTEX) -- Poland will spend $170 million to boost the capacity of the first phase of the Yamal gas pipeline, deputy Economy Minister Marek Kossowski announced after government delegation talks in Moscow.      Thailand asks Malaysia for more time to decide on natural gas pipeline project   BANGKOK, Jan 14, 2002 (AFX-Asia via COMTEX) -- Thailand has asked Malaysia for more time to consider whether to go ahead with building a cross-border natural gas pipeline, Foreign Minister Surakiart Sathirathai said, according to ministry officials.      Asean gas pipeline project takes shape  Jan 13 - Business Times - Kuala Lumpur THE RM22.8 billion Trans Asean Gas Pipeline (TAGP) project is taking shape despite a delay in the Thai-Malaysia Gas Pipeline project and the yet-to- be-signed memorandum of understanding (MOU) for the realisation of the project.      Storage      UNUSUALLY HIGH 2001 YEAR-END U.S. GAS INVENTORIES SIGNAL 2002 PRODUCTION DIP   By Nick Snow in Washington, Jan 14, 2002 (Petroleum Finance Week/PBI Media via COMTEX) -- Abnormally warm weather during the fourth quarter left 2001 year-end U.S. natural gas inventories at an estimated 2.86 trillion cubic feet (Tcf), 1.1 Tcf above their level at the end of 2000 and 19 percent above the average for the previous five years, the Department of Energy's Energy Information Administration (EIA) said last week.      General      Ex-Enron Execs Launch Own Firm   By BILL BERGSTROM AP Business Writer, PHILADELPHIA, Jan 14, 2002 (AP Online via COMTEX) -- Several former Enron executives launched a new company Monday to market energy services to small and medium-sized businesses instead of the large industrial customers the bankrupt giant had sought out.      Enron's Mark Is Deep in Political Pockets  By Julie Mason, Houston Chronicle, Jan. 13 Texas politicians, long the biggest beneficiaries of Enron Corp.'s prodigious campaign spending, are now facing the downside of the fallen corporation's political largess.      Royal Dutch/Shell to expand gas ops, also considers acquisitions   FRANKFURT, Jan 13, 2002 (AFX-UK via COMTEX) -- Royal Dutch/Shell Group wants to expand its gas operations, and in doing so, may make acquisitions, said Paul Skinner, chief executive of the group's Oil Products division.      Enron Reportedly Gave to Politicians   TALLAHASSEE, Fla., Jan 14, 2002 (AP Online via COMTEX) -- Florida's pension fund investment in Enron Corp. has cost the state more than $300 million, but many top politicians received money from the Texas-based energy giant.      Document ordering data destruction raises legal questions, senator says   By H. JOSEF HEBERT Associated Press Writer, WASHINGTON, Jan 14, 2002 (AP WorldStream via COMTEX) -- The timing of an accounting firm's memo directing the destruction of documents raises the serious possibility of obstruction of justice, says the chairman of a Senate committee investigating Enron Corp.'s collapse.      Bush Officials Downplay Enron Calls  Jan 14, 2002 - United Press International Bush administration officials on Sunday said there was no reason to tell the president or the public about telephone calls they received from Kenneth Lay, the chairman and chief executive officer of bankrupt energy trader Enron Corp., prior to the company's collapse.      Andersen Under Scrutiny: How Much Culpability Does the Accounting Firm Have for Enron's Collapse?  by Will McNamara, IssueAlert, Jan. 14 (Scientech) The heat on Enron's auditors went up another notch on Jan. 13 following a report that Arthur Andersen executives issued an order to destroy audit documents just days before Enron posted a $618-million third-quarter loss. Special Offer from this Publisher!       Enron Scandal Grows As Andersen Says Staff Disposed of Documents  Jan. 14 (Utility Spotlight) Amid the growing number of investigations into the mushrooming Enron scandal, Andersen, the nation's 5th largest accounting firm, notified the Securities and Exchange Commission that "in recent months individuals disposed of a significant but undetermined number of electronic and paper documents and correspondence relating to the Enron engagement." Special Offer from this Publisher!       Joint Ventures & Alliances      Aquila and NiSource Form Alliance   KANSAS CITY, Mo., Jan. 14 /PRNewswire/ The Aquila subsidiary of UtiliCorp United and NiSource Inc. today announced the formation of a unique alliance under which the two companies will seek to capitalize on market opportunities and deliver comprehensive energy solutions by leveraging the capabilities and knowledge of the two companies.      Trading/Marketing      Swiss Bank UBS Nears Deal to Assume Enron's Energy Trading Operation  By Laura Goldberg, Houston Chronicle, Jan. 14 Enron Corp. would exit the energy trading and marketing business that was once the heart of the company under a deal it was close to finalizing late Sunday with Swiss investment bank UBS.      Legal      Judge Says Enron's Bankruptcy Trial Will Stay in New York City  By Charlene Oldham, The Dallas Morning News, Jan. 12 Some former employees of Enron Corp. savored mental images of what company executives might face during a bankruptcy trial in the city that once counted the energy trader among its most successful corporate citizens.      Texas Attorney General Recuses Himself from Enron Inquiry  By Jay Root, Fort Worth Star-Telegram, Texas, Jan. 12 Joining a growing list of politicians seeking distance from collapsed energy giant Enron, Texas Attorney General John Cornyn recused himself Friday from a state investigation of the company.      People      Enron CEO Took Long Path from Farm to Rig  By Robert Schlesinger, The Boston Globe, Jan. 13 Kenneth Lay came from humble roots that, his friends and associates say, he never forgot.      Review Shows Enron Chief, Wife Gave More Money to Bush in Texas Governor Race  By Wayne Slater, The Dallas Morning News, Jan. 12 In distancing himself from Enron, President Bush said that CEO Kenneth Lay "was a supporter" of Democrat Ann Richards in his first race for Texas governor in 1994.      Environmental      Bush Moves Worry Environmental Community  By Bennett Roth, Houston Chronicle, Jan. 14 The environmental community has grown increasingly concerned that the Bush administration is quietly rolling back water, air and land protections, making changes that have gone largely unnoticed as war and the economy have dominated the headlines.      Round table promotes emissions-trading system to reduce pollution   ALISON AULD, HALIFAX, Jan 14, 2002 (The Canadian Press via COMTEX) -- Canada could save $20 billion over the next decade if it adopts an innovative program that uses financial incentives to encourage companies to cut greenhouse gas emissions, according to a federal report.      Financial      Former Enron CEO Skilling shorted competitor's stock  NEW YORK, Jan 14 (Reuters) Jeffrey Skilling, the former chief executive of Enron Corp., sold short AES Corp.'s stock last summer in a bet that the competing power company's share price would fall, his spokeswoman said on Monday.      Enron worker warned execs on accounting -lawmakers  WASHINGTON, Jan 14 (Reuters) An Enron Corp. employee warned the energy giant's top executive in August 2001 about potential problems with how it accounted for certain transactions, Congressional investigators said on Monday.      Enron Shares Halted on NYSE  Jan 14, 2002 - AFX News Limited Enron Corp shares were halted at the market opening on the New York Stock Exchange.      Financial - Ratings      European utilities' rating downgrades set to continue in 2002 - Moody's   LONDON, Jan 14, 2002 (AFX-Europe via COMTEX) -- Moody's Investors Service said it expects credit rating downgrades among European utility companies to continue in 2002.      Financial - Results      Anadarko earnings fall short, budget slashed  HOUSTON, Jan 14 (Reuters) - Anadarko Petroleum Corp., the largest U.S. independent oil and gas producer, said on Monday its fourth-quarter earnings will fall short of Wall Street's expectations because of a decline in production and prices.      International      Russian gas deal needs more time   By Paul Shockley, Jan 14, 2002 (New World Publishing via COMTEX) -- Officials renegotiating a long-term gas delivery deal with Russia's Gazprom will not have a pact ready for Russian President Vladimir Putin to sign during his Warsaw visit this week, while analysts say it's unclear how changes to the deal would impact last year's gas import agreements with Norway.      Govt: Natural Gas Subsidy Will Not Affect Expansion   Brazil, Jan 14, 2002 (BNamericas.com via COMTEX) -- The proposed subsidy on natural gas transport costs for thermoelectric power plants should not affect the planned expansion of the Bolivia-Brazil natural gas pipeline or the open market for gas, senior government officials told reporters on Monday.      Gas Tariffs to Grow by 35 Percent in Russia in 2002  Jan 14, 2002 - Itar-Tass News Agency Gas tariffs will be raised in Russia in 2002 by 35 percent on average, according to the head of the Federal Energy Commission, Georgy Kutovoi.      'Shell And Exxon in China Project'  Jan 14, 2002 - FT World Media Abstracts via Comtex Royal Dutch/Shell Group, the Anglo-Dutch oil company, will work together with rival Exxon in the gas project in China after all, it was reported by the British press.      Enron Fallout Extends to Britain  Jan 14, 2002 - United Press International Lord John Wakeham, the former Conservative government minister and the chairman of Britain's Press Complaints Commission, Monday faced the prospect of being called to the U.S. Senate to give evidence on the collapse of the Enron energy corporation.      Dynegy Create Subsidiaries to Compete in The Spanish Energy And Telecoms Markets  Jan 14, 2002 - FT World Media Abstracts via Comtex Dynegy, the energy services subsidiary of US oil group Chevron Texaco, is to enter the Spanish market.        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!    ENERGY CENTRAL DAILY ELECTRIC POWER NEWS   An e-mail news service that delivers every major story every day directly to your e-mail address. Inquire for corporate and group discount rates. sales@energycentral.com   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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