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Sent: Wednesday, June 06, 2001 8:23 PM
Subject: Daily Gas News - 6/7/01


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>   ENERGY CENTRAL GAS NEWS FOR 6/7/01 - 22 NEW ITEMS
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>   CALIFORNIA CRISIS
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>
> CHEVRON TO CUT RUNS UNLESS EXEMPTED FROM CALIF. BLACKOUTS
>   NEW YORK, June 5 (Reuters) - - Chevron Corp.  will reduce gasoline
>   output at its two California refineries if they are not exempted
>   from rolling blackouts this summer, the company said in a letter.
>   --> NEWS SUBSCRIBERS can access this article for free!
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> ______________________________________________________________________
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>   MERGERS, ACQUISITIONS & DIVESTITURES
> ______________________________________________________________________
>
> KERR-MCGEE GRANTED EARLY TERMINATION OF HART-SCOTT-RODINO WAITING
> PERIOD FOR HS RESOURCES ACQUISITION
>   OKLAHOMA CITY, June 6 /PRNewswire/ - Kerr-McGee Corp. announced
>   today that it has been granted early termination of the waiting
>   period under the Hart-Scott-Rodino Antitrust Improvements Act of
>   1976, in regards to the $1.7 billion acquisition of HS Resources, Inc.
>   --> NEWS SUBSCRIBERS can access this article for free!
>
>
> EXECUTIVES SAY COLORADO ENERGY FIRMS MAKE ATTRACTIVE TAKEOVER TARGETS
>   By Steve Raabe, The Denver Post -- June 5 - Colorado energy
>   companies will become increasingly attractive targets for big
>   national companies seeking to grow even bigger, officials said
>   Monday at a Denver conference.
>   --> NEWS SUBSCRIBERS can access this article for free!
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>   DRILLING/EXPLORATION
> ______________________________________________________________________
>
> BP SETS PLAN FOR $600 MLN TRINIDAD GAS PROJECT
>   PORT OF SPAIN, Trinidad, June 5 (Reuters) - - BP Trinidad and
>   Tobago said it is preparing to launch a US$600 million off-shore
>   natural gas project in July, in part to feed the Caribbean
>   nation's giant Atlantic liquefied natural gas plant.
>   --> NEWS SUBSCRIBERS can access this article for free!
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>
> ______________________________________________________________________
>
>   LEASES/ACREAGE
> ______________________________________________________________________
>
> REGENT ENERGY CORPORATION TO PURCHASE SOUTH THORNWELL FIELD FROM
> MTBB ACQUISITION, LLC
>   HOUSTON, June 6 /PRNewswire/ - Regent Energy Corporation
>   announced today that it has entered into an agreement to purchase
>   the South Thornwell Field in Jefferson Davis Parish, Louisiana
>   from MTBB Acquisition, LLC for $1.1 million and 25% of the field's
>   cash flow (after recovery of costs).  Regent will be operator of
>   three of the four wells.
>   --> NEWS SUBSCRIBERS can access this article for free!
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>
> ______________________________________________________________________
>
>   PIPELINES
> ______________________________________________________________________
>
> COMMISSIONERS VOTE TO APPROVE WISCONSIN GAS LATERAL; NEW LINE WILL
> BRING COMPETITION TO SOUTHEASTERN WISCONSIN
>   June 6 (News Release) - The Public Service Commission of Wisconsin
>    voted to approve construction of the 35-mile Wisconsin Gas
>   Lateral. T
>   --> NEWS SUBSCRIBERS can access this article for free!
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>   GENERAL
> ______________________________________________________________________
>
> BRITISH POST OFFICE INVESTIGATES METHODS OF PROVIDING CHEAPER
> UTILITY BILLS
>   Evening Standard, London -- June 5 - The Post Office is studying
>   ways of providing cheaper utility bills for poor customers who do
>   not pay by direct debit.
>   --> NEWS SUBSCRIBERS can access this article for free!
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>
> ______________________________________________________________________
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>   TRADING/MARKETING
> ______________________________________________________________________
>
> CAL-ISO FIGURES FOR BENCHMARK PRICING OMIT AIR-QUALITY OFFSET COSTS
>   June 4 (California Energy Markets) - With a new market-mitigation
>   plan taking effect May 29, the California Independent System
>   Operator has begun posting some of the information that will help
>   determine energy price benchmarks during system emergencies, as
>   ordered by the Federal Energy Regulatory Commission.
>   --> NEWS SUBSCRIBERS can access this article for free!
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>   DEALS/CONTRACTS
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> VALERO POSITIONS TO BECOME CHALLENGER TO EXXONMOBIL; SHAKEUP IN OIL
> INDUSTRY INCLUDES POWER FIRMS
>   By Will McNamara, IssueAlert, June 6 (Scientech) - Valero Energy
>   Corp. announced that it has agreed to lease a Texas oil refinery
>   and pipelines owned by El Paso Corp., securing the fast-growing
>   company's position as the second largest refinery concern in the
>   United States.
>   --> NEWS SUBSCRIBERS can access this article for free!
>   [ ] 55-33: Read IssueAlert everyday at http://www.consultRCI.com.
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>   POWER PROJECTS
> ______________________________________________________________________
>
> TECO BREAKS GROUND ON 599-MW ARKANSAS POWER PLANT
>   NEW YORK, June 5 (Reuters) - - TECO Energy  subsidiary TECO Power
>   Services held a groundbreaking ceremony Tuesday on its
>   599-megawatt natural gas-fired power plant in Dell, Ark.
>   --> NEWS SUBSCRIBERS can access this article for free!
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> ______________________________________________________________________
>
>   FUEL
> ______________________________________________________________________
>
> JULY FUTURES DROPS TO 1-WEEK LOW ON SIZEABLE STORAGE BUILD
>   June 6 (Btu's Daily Gas Wire) - July natural gas futures settled
>   down 9.1 cents at $3.801 after the American Gas Association
>   detailed a 117 billion cubic feet increase to storage during the
>   week ended Friday (6/1), a figure at the top end of most estimates.
>   --> NEWS SUBSCRIBERS can access this article for free!
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>   Gas Market Report.
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>   ENVIRONMENTAL
> ______________________________________________________________________
>
> SHELL CONTRIBUTES $1 MILLION TO HELP PRESERVE LAGUNA MADRE
>   HOUSTON, June 6 /PRNewswire/ - The Shell Oil Company Foundation
>   today announced a $1 million commitment to The Nature Conservancy
>   to help save the Laguna Madre ecosystem on the Gulf of Mexico.
>   Provided over a four-year period, this contribution will be used
>   to purchase land and fund conservation activities.
>   --> NEWS SUBSCRIBERS can access this article for free!
>
>
> ______________________________________________________________________
>
>   FINANCIAL
> ______________________________________________________________________
>
> EMERA TO BUY 8.4 PCT STAKE IN SABLE GAS PROJECT
>   TORONTO, June 6 (Reuters) - - Canadian energy company Emera Inc.
>   said on Wednesday it will spend C$50 million ($33 million) to buy
>   an 8.4 percent stake in the Sable Offshore Energy natural gas
>   project in Nova Scotia, a smaller investment than one announced
>   earlier this year.
>   --> NEWS SUBSCRIBERS can access this article for free!
>
>
> HARKEN ENERGY SEEKS TO REFOCUS ON U.S. NATURAL GAS
>   HOUSTON, June 6 (Reuters) - - Harken Energy Corp. said Wednesday
>   its directors approved a restructuring effort to focus on its U.S.
>   assets, particularly its natural gas prospects.
>   --> NEWS SUBSCRIBERS can access this article for free!
>
>
> ______________________________________________________________________
>
>   INTERNATIONAL
> ______________________________________________________________________
>
> STATOIL ASKS FOR EXPLANATION
>   Jun 06, 2001 - FT World Media Abstracts via Comtex - Statoil, the
>   Norwegian state-owned oil and energy group, is soon to be
>   privatised and listed on the stock exchanges in Oslo and New York.
>   --> NEWS SUBSCRIBERS can access this article for free!
>
>
> NORWEGIAN POLITICAL PARTIES DISCUSS THE GOVERNMENT'S OWNERSHIP OF STATOIL
>   Jun 06, 2001 - FT World Media Abstracts via Comtex - Olav
>   Akselsen, the Norwegian minister for oil and energy, has revealed
>   that the government has no plans to reduce its stake in Statoil,
>   the Norwegian state-owned oil group, below the agreed one-third.
>   --> NEWS SUBSCRIBERS can access this article for free!
>
>
> INDONESIAN OILMIN SEES ARUN GAS RESTART IN JUNE
>   VIENNA, June 5 (Reuters) - - Indonesia hopes to reopen gas fields
>   in the rebellious Aceh province "sometime" in June and resume
>   valuable exports of liquefied natural gas (LNG), Energy Minister
>   Purnomo Yusgiantoro said on Tuesday.
>   --> NEWS SUBSCRIBERS can access this article for free!
>
>
> BALEARIC ISLANDS SIGN GAS SUPPLY AGREEMENT
>   Jun 06, 2001 - FT World Media Abstracts via Comtex - The leader of
>   the government of the Balearic islands, Francesc Antich i Oliver,
>   and the chairman of Spanish gas company Enagas signed a gas supply
>   agreement yesterday.
>   --> NEWS SUBSCRIBERS can access this article for free!
>
>
> GAS, RANCI REVOLUTIONISES DISTRIBUTION
>   Jun 06, 2001 - FT World Media Abstracts via Comtex - The Italian
>   energy authority yesterday published its new provisions for gas
>   distribution tariffs in Italy.
>   --> NEWS SUBSCRIBERS can access this article for free!
>
>
> AUTHORITY VALUES ENI NETWORK AT L18,200BN
>   Jun 06, 2001 - FT World Media Abstracts via Comtex - The Italian
>   energy authority has valued the gas distribution network of
>   Italian oil group ENI at L18,200bn. ENI is to transfer the network
>   to Rete Gas Italia, which will be listed this autumn.
>   --> NEWS SUBSCRIBERS can access this article for free!
>
>
> RUSSIA MAY DELAY PLANNED AUTUMN GAZPROM REFORM-PM
>   MOSCOW, June 6 (Reuters) - - Russia may delay discussing a
>   restructure of gas monopoly Gazprom this autumn as was previously
>   planned, as there are too many reforms under way, Prime Minister
>   Mikhail Kasyanov said on Wednesday.
>   --> NEWS SUBSCRIBERS can access this article for free!
>
>
> BANKS READY FOR INVESTMENT BONANZA IN SAUDI ARABIAN GAS MARKET
>   By Peter Cooper, AME Info, Abu Dhabi, United Arab Emirates -- June
>   4 - International and Saudi banks are very excited by the 5-30
>   billion initial foreign investment in the Saudi Arabian gas sector
>   announced at the end of May.
>   --> NEWS SUBSCRIBERS can access this article for free!
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