Fw: Daily Gas News

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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.
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< MERGERS, ACQUISITIONS & DIVESTITURES
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< 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.
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< 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.
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< DRILLING/EXPLORATION
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< 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.
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< LEASES/ACREAGE
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< 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.
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< PIPELINES
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< 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
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< GENERAL
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< 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.
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< TRADING/MARKETING
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< 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.
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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.
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< POWER PROJECTS
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< 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.
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< FUEL
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< 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.
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< ENVIRONMENTAL
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< 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.
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< FINANCIAL
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< 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.
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< 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.
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< INTERNATIONAL
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< 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.
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< 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!
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<
< 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.
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<
< 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.
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< 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.
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< 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!
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<
< 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.
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< 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.
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