Platts Energy Bulletin

Platts Energy Bulletin

The daily Energy Bulletin is a showcase of the top headlines posted on
platts.com (http://www.platts.com) over the past 24 hours. To view this file in
html, open the attachment at the bottom of this email. We welcome your feedback
- send your comments to feedback@platts.com. Instructions for unsubscribing can
be found at the bottom of each issue.

March 6, 2002

What's New on platts.com?
Platts Enron Report: Read about the implications of Enron's bankruptcy on the
financial and energy communities.
(http://www.platts.com/features/enron/index.shtml)

S&P: Examining the Cost of Merchant Generating Plants - Property Taxes: This
article explores in depth the fixed cost structure of merchant power plants to
enhance the transparency of Standard & Poor's net revenue analysis.
(http://www.platts.com/risk_management/sandp/analysis.shtml)

Quote of the Day: A selection of industry/OPEC viewpoints.
(http://www.platts.com/quote.shtml)

ENERGY INSIGHT:
(for Platts Premium Customers)

Mark-to-market coming under scrutiny
Enron Corp's supernova-like flameout has drawn attention to the inherent quirks
of mark-to-market accounting. While Enron certainly was a mark-to-market abuser,
the question now is how to prevent other companies from abusing hypothetical
future contract values and booking spurious cash flow in the present.
(http://www.einsight.com)

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Futures Round-up

NYMEX: Crude to open lower on bearish DOE stock build
April crude oil on NYMEX is called to open 55 cts lower at $22.62/bbl. April
unleaded gasoline is called to open 19 pts lower at 72.91 cts/gal and April
heating oil is called to open 54 pts lower at 59.60 cts/gal.

IPE Brent Focus: IPE Brent crude trades lower, correcting initial gains
Front-month April Brent stood at $22.70/bbl at 1117 GMT, 9 cts off from
Tuesday's close, having peaked at $23/bbl earlier.

News Round-up
Click on the headlines below or paste the URLs provided in your internet browser
to see the full story.

OIL:
Oman says ready to extend oil output cuts to year-end
Gulf oil producer Oman is ready to extend its 40,000 b/d crude output cut to the
end of the year if necessary as part of continued cooperation with OPEC and
other independent producers, oil minister Mohammed al-Rumhy said Wednesday.
(http://www.platts.com/archives.shtml#59764)

NATURAL GAS:
BHP Billiton to develop Pakistan's Zamzama gas field
Australian resources giant BHP Billiton Wednesday said it would proceed with the
phase one development of the Zamzama gas field in southern Pakistan, which has
been producing under an extended well test since March 2001.
(http://www.platts.com/archives.shtml#59746)

PETROCHEMICALS:
ExxonMobil eyes ethylene elastomers for future growth
ExxonMobil sees new developments in ethylene elastomers as the next avenue for
pursuing its strategic growth through the commercialization of product lines.
(http://www.platts.com/archives.shtml#59743)

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ELECTRIC POWER:
US FTC gets sole antitrust review authority over mergers
The US Federal Trade Commission would have sole responsibility for reviewing all
energy industry mergers, under an agreement announced Tuesday with the
Department of Justice dividing merger review and antitrust investigations
according to industry sector. (http://www.platts.com/archives.shtml#59729)

NUCLEAR:
Belgium takes step toward killing nuclear power
Belgium has taken a decisive step toward ending nuclear power generation in that
country.The executive adopted a draft law Mar 1 aimed at shutting the country's
seven reactors after 40 years of operations and at barring the construction of
new nuclear generating capacity. (http://www.platts.com/archives.shtml#59728)

COAL:
Department of Energy offers $330-mil in coal funding
With an initial offer of $330-mil in federal matching funds, "the initial
competitive stage of President Bush?s $2-bil, 10-year clean coal technology
initiative officially begins," according to the Department of Energy.
(http://www.platts.com/archives.shtml#57286)

BANDWIDTH:
FCC chairman defends competitive landscape; says content is not compelling
Although he acknowledged a "severe depression" in the telecommunications
industry, Michael Powell, chairman of the Federal Communications Commission,
refused Monday to subscribe to the notion that there is no competition among
broadband providers. (http://www.platts.com/bandwidth/index.shtml)

To see the past five day's headlines posted on platts.com
go to Platts archives (http://www.platts.com/archives.shtml).

Upcoming Events:

Platts Policies and Methodology Forum, Platts will hold an open forum to discuss
its policies and methodologies on Sunday, March 17 at the Marriott Rivercenter
Hotel in San Antonio, Texas. The forum will be held in conjunction with the
annual meeting of the National Petroleum Refiners' Association. For further
details and to register go to
http://www.platts.com/oil/SanAntonioForum/sanantonioforumregister.shtml

4th Annual ELECTRIC POWER Conference & Exhibition, "Where the Operating
Companies Meet", Over 10 co-located events, 500 exhibiting companies and 6,000+
attendees. March 19-21, 2002, America's Center, St. Louis, Missouri. Organized
by The TradeFair Group, and Sponsored by POWER Magazine and Platts.
(http://www.electricpowerexpo.com/currentshow/home.asp)

"Grid Business: The Midwest," an Electrical World Roundtable in cooperation with
R.J. Rudden Associates and the United States Energy Association. March 20-21,
2002, in St. Louis, Missouri.
(http://www.platts.com/gridbusiness/index.html)

"Navigating the Perfect Storm: Charting Power Generation Success," the 17th
Annual Global Power Markets Conference. March 24-26, 2002, in New Orleans. Have
you secured your space at the conference? Rooms are going fast, so register
today! Presented by Platts Global Power Report and Global Energy Business, this
17-year-old summit draws nearly 800 top-level executives, including power
generation developers, bankers, equipment vendors, fuel and service providers,
and consultants. For years it has been know as THE place to be if you're in
search of vital information and key business contacts. For more information or
to register, please visit our website:
http://www.platts.com/electricpower/GPMConf2002/index.shtml

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PLATTS' MAGAZINES:

Global Energy Business - Top 250 Energy Companies
The first annual survey by Global Energy Business of financial performance for
leading energy companies worldwide presents year 2000 data--assets, revenues,
profits, earnings per share, and return on invested capital--for firms with
assets exceeding $2 billion. Data were supplied by Standard & Poor's, a unit of
The McGraw-Hill Companies, New York, from its Compustat data base.
(http://www.platts.com/business/issues/0201/0201geb_top250.shtml)

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