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Energy Central Job Center =09 [IMAGE]=09 [IMAGE] =09 HOME | GAS NEWS | EVENTS | JOBS | BUSINESS CENTERS | DIRECTORIES= | DATA CENTER MONDAY, JANUARY 28, 2002 =09 =09 THIS ISSUE BROUGHT TO YOU BY Do the right energy professionals= have your company's white papers? Gain exposure to thousands by including = them in the industry's most respected information resource - the Energy Cen= tral Research Report Center. Users are able to quickly sort and view all in= cluded documents. Make sure yours is included. To learn how to submit your = white papers, e-mail mjohnson@energycentral.com. http://www.energycentral.c= om/sections/research TOP STORIES Alberta Energy, PanCanadian in= merger talks CALGARY, Alberta, Jan 25 (Reuters) - PanCanadian Energy Corp= . and Alberta Energy Co. Ltd. elated investors on Friday by revealing they = were in merger talks aimed at creating North America's biggest oil explorat= ion and production company. Kansas Utilities Seek to Recoup Losses from= Unpaid Bills By Scott Rothschild, Journal-World, Lawrence, Kan., Jan. 25 = Natural gas companies want to charge their good customers -- you may be amo= ng them -- for the bills they couldn't collect from bad customers last wint= er when heating costs reached record levels. CFTC approves Merchants Ex= change energy futures WASHINGTON, Jan 25 (Reuters) - U.S. federal regulato= rs approved on Friday six new energy futures contracts for the Merchants' E= xchange, an all-electronic commodity market. National Energy Policy = GAO brandishes lawsuit in energy task force probe WASHINGTON, Jan 25 (R= euters) - Congress' top investigator said on Friday he will decide late nex= t week whether to take the Bush administration to court -- in a potentially= historic legal fight -- for withholding details about how it developed its= controversial energy policy. W.House changed draft plan to help Enron= -lawmaker WASHINGTON, Jan 26 (Reuters) The White House apparently changed = a draft energy proposal circulated by the State Department last year to add= a provision aimed at helping energy-trader Enron Corp. in India, a Democra= tic lawmaker says. Mergers, Acquisitions & Divestitures Oklahoma = City-Based Devon Energy Ready to Claim Top Independent Spot By Rick Robins= on, The Daily Oklahoman, Jan. 24 Devon Energy Corp. is poised to become the= largest independent energy company in North America today, with the expect= ed completion of its $3.5 billion cash-and-stock acquisition of Mitchell En= ergy & Development Corp. ADVERTISEMENT Online marketplaces are = driving an ongoing restructuring of Europe's energy industry, by making ene= rgy trading simpler and cheaper. A new report from Datamonitor, Online Ener= gy Trading in Europe, explores the growing volume of trading operations in = a liberalized market. http://www.energycentral.com/links/show_mi.cfm?id=3D1= 00584 Legislation/Regulation Arthur Andersen Draws Fire from = Lawmakers for Delay before Halt of Shredding By Julie Mason, Houston Chron= icle, Jan. 25 Lawmakers on Thursday ferociously criticized Arthur Andersen = for waiting weeks after a federal investigation was under way before haltin= g in-house destruction of Enron Corp. documents. US lawmakers seek loa= n data from ex-Enron CEO Lay By Jeremy Pelofsky, WASHINGTON, Jan 25 (Reute= rs) U.S. House of Representatives lawmakers on Friday asked former Enron Co= rp. chief Kenneth Lay to provide information on loans he received from the = once high-flying energy firm and on his sales of company stock. White = House Denies Political Adviser Has Ties to Ralph Reed's Enron Job The Atla= nta Journal-Constitution, Jan. 26 White House aides Friday denied that Karl= Rove, the president's top political adviser, secured work for Republican s= trategist Ralph Reed at Enron Corp. five years ago so that Reed would suppo= rt the Bush presidential campaign. Congressional Committee Promises Re= form to Prevent Future Enron Cases Knight Ridder Washington Bureau, Jan. 2= 5 As Enron's outside auditor tried to deflect the blame for shredding docum= ents onto a single fired employee, Congress on Thursday began to focus on p= reventing a repeat of the financial system's failure to protect investors a= nd employees hurt by the energy giant's collapse. US FERC to hold clos= ed meeting to mull investigation WASHINGTON, Jan 24 (Reuters) The Federal = Energy Regulatory Commission said Thursday it will hold a rare, closed-door= meeting next week to discuss a several issues, including the "possible ini= tiation of an investigation." White House orders Enron, Andersen contr= acts review WASHINGTON, Jan 25 (Reuters) - The White House on Friday order= ed a review of $70 million in U.S. government contracts with Enron Corp. --= the bankrupt energy trading giant that was President George W. Bush's bigg= est financial backer in the 2000 campaign -- and with its accounting firm A= rthur Andersen. Campaign-Finance Reform Bill Moves Forward as Enron's = Fall Revives Issue By Roma Khanna, Houston Chronicle, Jan. 25 Long-sought = legislation to eliminate unregulated campaign contributions moved toward th= e House floor Thursday, propelled by the perception that Enron Corp. purcha= sed influence with massive political donations. Gas Pricing/Hubs = Canada natgas mixed, Alberta rises on cold weather NEW YORK, Jan 25 (Reute= rs) Spot natural gas prices in Canada were mixed Friday with Alberta up on = cold weather in the province, and most exports to the U.S. easing with weak= er prices south of the border, industry sources said. NYMEX Hub gas en= ds mixed, Feb hits new contract low NEW YORK, Jan 25 (Reuters) NYMEX Hub g= as ended mixed Friday in moderate trade, with February again pressured to a= new contract low and four-month spot low by weaker physicals and fairly mi= ld U.S. weather forecasts, industry sources said. U.S. Gas Slides on W= eak Demand, Futures Fall, Canada Flat on Cold Jan. 25 (Btu's Daily Gas Wir= e) As the weather pattern across most of the U.S. has ushered in drasticall= y above normal temperatures with the East experiencing readings in the 50s = this weekend and as high as 60 degrees early next week, the demand for week= end gas was deplorable. Special Offer from this Publisher! Mild temps= , NYMEX push U.S. spot natural gas lower SAN FRANCISCO, Jan 25 (Reuters) U= .S. day-ahead natural gas prices moved lower Friday, pressured by ongoing m= ild weather in the East and softer benchmark Henry Hub prices which dipped = to near two-month lows. Futures NYMEX Feb natgas hits new contrac= t low on weather NEW YORK, Jan 25 (Reuters) New York Mercantile Exchange (= NYMEX) February natural gas futures fell to a new contract low and a four-m= onth spot low early Friday, pressured by a weak cash market and forecasts f= or more mild weather in the U.S., industry sources said. Natural gas e= nds flat on late liquidation Jan 25, 2002 (TradeSignals via COMTEX) -- Na= tural gas futures ended Thursday's session near flat as late long liquidati= on takes the market off earlier highs. Pipelines Gas pipeline pro= ject to start in March, NEW STRAITS Jan 24 - WorldSources Online A MASSIVE= Malaysia-Thailand gas pipeline project is set to kick off as early as Marc= h, a year off its original target, after the final hurdle is cleared-the no= d from the Thai authority. Rates For more information on rate tarif= fs visit Gas Rate Tariffs [IMAGE] Long Beach, Calif., Group Sees Parti= al Victory in Ruling on Gas Rates By Jason Gewirtz, Press-Telegram, Long B= each, Calif., Jan. 24 A citizens' group supporting lower natural gas rates = has declared a partial victory in a lawsuit it filed last year against the = city. Nevada Public Utilities Commission Approves Cut in Southwest Gas= Rates By John G. Edwards, Las Vegas Review-Journal, Jan. 25 Utility custo= mers bracing themselves for possible electric rate increases can take some = comfort in a 17.4 percent rate reduction approved Thursday for Southwest Ga= s. New Jersey Natural Gas Customers to See 3 Percent Rate Drop By Dav= id P. Willis, Asbury Park Press, N.J., Jan. 24 New Jersey Natural Gas Co. c= ustomers will see their rates drop another 3 percent, the third rate decrea= se since Dec. 1, as the company takes advantage of lower wholesale natural = gas prices. Rigs Baker Hughes-U.S. rig count down 10, Canada up 2= 2 NEW YORK, Jan 25 (Reuters) The number of rigs searching for oil and gas = in the United States fell by 10 to 859 during the week ending Jan. 25, acco= rding to oil services firm Baker Hughes. Storage Cargill objects = to Saltville natgas storage project WASHINGTON, Jan 24 (Reuters) An expand= ed Virginia natural gas storage facility planned by Duke Energy Corp and NU= I Corp failed to obtain federal approval, Cargill Inc. said in a complaint = filed on Thursday with the Federal Energy Regulatory Commission. Gener= al Enron's Fall Puts Spotlight on Responsibilities of Board of Directo= rs By Bill Deener, The Dallas Morning News, Jan. 25 The fallout from Enron= Corp.'s collapse has taken a most predictable turn. U.S. Senate Candi= date in Texas Defends Actions Regarding Enron By Clay Robison, Houston Chr= onicle, Jan. 25 Enron cast a shadow over the U.S. Senate race on Thursday a= s Republican candidate John Cornyn, a major recipient of Enron donations, d= efended a decision to side with the company in a regulatory dispute shortly= before its collapse. Seven Enron Executives Made Millions from Stock = By Melita Marie Garza, Chicago Tribune, Jan. 24 Seven officers of Enron Co= rp. unloaded as much as $175 million worth of their company's shares last y= ear in a stock-selling spree that was extraordinary even by the standards o= f the aggressive energy-trading industry. Enron's Financial Chill Not = Limited to Firm's Former Employees By Flynn McRoberts, Chicago Tribune, Ja= n. 26 The financial damage from Enron Corp.'s implosion extends far beyond = the thousands of Enron employees who lost their livelihoods. CHRONOLOG= Y - Rise and fall of energy giant Enron NEW YORK, Jan 25 (Reuters) Followi= ng are key dates in the history of energy trading giant Enron Corp.: W= ith death, Enron is even greater human tragedy HOUSTON, Jan 26 (Reuters) -= The suicide of former Enron Corp. Vice Chairman J. Clifford Baxter on Frid= ay showed that the unfolding Enron debacle is taking far more than a financ= ial toll, mental health experts said. Developments related to the Enro= n collapse and investigation By The Associated Press, Jan 25, 2002 (AP Wo= rldStream via COMTEX) -- Developments related to the Enron collapse and inv= estigation: Laclede Group's Chief Talks About The Weather; Gas Utility= 's Ceo Says Warm Winter Hurts Sales, Earnings Jan 25 - St. Louis Post-Disp= atch While speaking to shareholders Thursday at the Laclede Group Inc.'s an= nual meeting, Chief Executive Douglas Yaeger spent quite a bit of time talk= ing about the weather. Lay resignation won't stop flow to MUD Jan 26 = - Omaha World - Herald Kenneth L. Lay's resignation from Enron Corp. will n= ot affect the delivery of natural gas to utility customers or delay nextwee= k's scheduled transfer of Omaha-based Northern Natural Gas Co. to a new own= er, officials said Thursday. Senate Candidate in Texas Vows Enron Scru= tiny By Jack Douglas Jr., Fort Worth Star-Telegram, Texas, Jan. 25 Former = Austin Mayor Kirk Watson, a candidate for state attorney general, said Thur= sday that the investigation of Enron Corp.'s financial collapse means that = "Texas is in a tough situation." Houston's Astros Field Inquiries over= New Brand for Ballpark By Joseph Duarte, Houston Chronicle, Jan. 25 While= the fate of Enron remains in limbo, there is no shortage of takers wanting= to put their name on the Astros' 2-year-old downtown ballpark. Charit= ies Hurt By Enron Collapse Jan 25 - Associated Press One of Enron Corp.'s = largest charitable beneficiaries expected a $6 million donation by March, b= ut the United Way of the Texas Gulf Coast isn't counting on it. Tradin= g/Marketing Enron Unit's Motive for Hiding Losses May Be Unlawful By = Tom Fowler, Houston Chronicle, Jan. 26 When Enron's energy-services unit sl= id its trading operations under the umbrella of its wholesale marketing arm= last spring, it said the move was all about efficiency. Williams play= s Enron's game, but with caution Jan 25 - Tulsa World Amid sky-high energy= prices last January, Williams Cos. Inc. made an unusual boast for an energ= y company. Legal Enron Was Top Contributor to Texas Supreme Court= Hopefuls, Analysis Finds By Max B. Baker, Fort Worth Star-Telegram, Texas= , Jan. 24 Texas Supreme Court judges received more campaign money from Enro= n executives and the company's political action committee than from any oth= er corporate contributors, an analysis shows. Judge Approves Depositio= ns on Enron Document Shredding By Rosanna Ruiz, Houston Chronicle, Jan. 25= A federal judge has approved an order allowing attorneys for Enron stockho= lders to take depositions from one former and five current employees of the= company's auditing firm concerning document destruction. People = Dozens of Depositions, Subpoenas Await Former Enron Chairman By Mary Flood= , Houston Chronicle, Jan. 25 Ken Lay's day job is likely now to be a profes= sional defendant and witness. Enron May Get New Boss Soon as Candidate= Talks with Directors, Creditors By David Ivanovich, Houston Chronicle, Ja= n. 25 A candidate tapped by Enron's board of directors and largest creditor= s to assume the company's helm will meet with Enron managers as early as to= day. Former Enron executive's death ruled a suicide HOUSTON, Jan 26 (= Reuters) The death of former Enron Corp. Vice Chairman J. Clifford Baxter, = who died of a gunshot wound to the head, has been ruled a suicide, the Harr= is County Medical Examiner's Office said on Saturday. Visibility of En= ron's Lay Fades in Recent Weeks By Miles Moffeit, Fort Worth Star-Telegram= , Texas, Jan. 25 Ken Lay officially resigned as chairman and chief executiv= e from Enron Corp. on Wednesday, but many colleagues and friends wonder if = he didn't unofficially leave the building on Smith Street weeks ago. E= nron restructuring czar post may be hard to fill By Dane Hamilton, NEW YOR= K, Jan 24 (Reuters) Looking for the ultimate corporate challenge? Enron Cor= p. might just have the job for you. Congress should call Army chief ab= out Enron-group WASHINGTON, Jan 25 (Reuters) - A consumer watchdog group s= aid on Friday that Congress should call Army Secretary Thomas White to test= ify in the collapse of energy giant Enron, since he was formerly a high-ran= king Enron executive. Enron Chief's Departure Creates Huge Civic Void = in Houston By Rachel Graves, Houston Chronicle, Jan. 25 Ken Lay was an ico= n in Houston, a political and philanthropic force mentioned for years as a = potential mayoral candidate. Enron's Lay cancels meeting with Jesse Ja= ckson HOUSTON, Jan 24 (Reuters) - Former Enron Corp. chief executive Ken L= ay on Thursday canceled a meeting with civil rights activist Jesse Jackson,= who went to the company's headquarters anyway and called for laid off Enro= n workers to be reimbursed from money pocketed by company executives. = Labor/Human Resources Resignation of Enron CEO Prompts Mixed Reactions= from Former Workers By Mary Vuong, Houston Chronicle, Jan. 25 Overdue. Ap= propriate. Best for the company. Jesse Jackson Announces Bus Trip to W= ashington D.C., with Former Enron Workers By Bill Murphy, Houston Chronicl= e, Jan. 26 The Rev. Jesse Jackson announced Friday that laid-off Enron empl= oyees and their supporters are planning a bus caravan from Houston to Washi= ngton, D.C., next week to protest the federal government's failure to provi= de relief to them. Impact of Williams Cos. Job Cuts' on Owensboro, Ky.= , Unclear By Mark Cooper, Messenger-Inquirer, Owensboro, Ky., Jan. 24 Will= iams Co. will trim 4 percent of its employees this year, but it's not yet c= lear how many positions will be cut at its Owensboro division. Financi= al E-Mail Reveals Arthur Andersen Auditing Software Raised `Red Alert'= at Enron By Julie Mason, Houston Chronicle, Jan. 26 The same day Arthur A= ndersen hired outside counsel to handle lawsuits arising from Enron Corp., = auditors issued an internal "red alert" about possible fraud in the energy = giant's financial statements. Analyst Says Failure of Accounting Syste= m Contributed to Enron Collapse By Aldo Svaldi, The Denver Post, Jan. 25 T= he collapse of Enron Corp. was not only a business failure but a failure of= the country's accounting system, Lynn Turner, director of the Center for Q= uality Financial Reporting at Colorado State University, told U.S. senators= Thursday morning. Former SEC Officials Seek Auditing Overhaul after E= nron Collapse By Tim Lemke, The Washington Times, Jan. 25 Two former Secur= ities and Exchange Commission officials said yesterday that Enron's collaps= e underscores the need for sweeping changes in the current financial system= , even though the Houston energy company ran into trouble because it failed= to follow existing rules. Constellation Energy files $2.3 bln debt of= fering WASHINGTON, Jan 25 (Reuters) - Constellation Energy Group Inc. file= d on Friday with the Securities and Exchange Commission to periodically sel= l up to $2.3 billion in debt securities. As Enron stock tanked, some p= rofessional money managers saw a bargain By ADAM GELLER AP Business Writer= , NEW YORK, Jan 26, 2002 (AP WorldStream via COMTEX) -- It wasn't just Enro= n employees and individual investors who bet heavily - and lost big - on th= e company's stock last fall. In the Pink of Things? Enron May Find Adv= antages in Being Delisted by the NYSE By Will McNamara, IssueAlert, Jan. 2= 5 (Scientech) The New York Stock Exchange (NYSE) announced last week that i= t had suspended trading in Enron Corp. and moved to delist the energy compa= ny's shares from the Big Board. Special Offer from this Publisher! En= ron Collapse Cost Nevada's Pension Plan $22 Million By John G. Edwards, La= s Vegas Review-Journal, Jan. 24 The collapse of Enron, the energy trading g= iant, cost Nevada's pension plan $22 million in investment funds, but that = represents less than a percentage point of the plan's total $13.3 billion. = Enron Collapse Won't Knock Out Large Missouri Pension Funds By Leo Jo= hn, St. Louis Post-Dispatch, Jan. 25 Large state-employee and teacher pensi= on funds in Missouri lost more than $33 million in the collapse of Enron Co= rp. Financial - Ratings RESEARCH ALERT-Merrill lowers Nicor to "b= uy" NEW YORK, Jan 25 (Reuters) Merrill Lynch said on Friday it cut its int= ermediate-term rating on the shares of Nicor Inc., parent of gas distributi= on utility Northern Illinois Gas, to "buy" from "strong buy," citing the st= ock's valuation. Financial - Results Net Income at Atlanta Gas Li= ght Increases 10.7 Percent, Exceeding Forecasts By Matthew C. Quinn, The A= tlanta Journal-Constitution, Jan. 25 Net income increased 10.7 percent in t= he quarter ended Dec. 31 for the parent of Atlanta Gas Light Co., despite w= arm weather that drove down demand for natural gas. Conoco, Phillips P= etroleum Earnings Drop for Fourth Quarter By Michael Davis, Houston Chroni= cle, Jan. 25 Lower oil prices and refining margins caused a sharp decline i= n Conoco's fourth-quarter earnings even though the company had higher oil a= nd gas production and increased refining volumes, Conoco said Thursday. = Oklahoma City-Based Gas Company Kerr-McGee Reports Net Loss By Rick Robi= nson, The Daily Oklahoman, Jan. 24 Kerr-McGee Corp. announced Wednesday tha= t it had a net loss in the fourth quarter but turned in positive earnings f= or the year. Peoples posts 1st-quarter earnings fall, cuts outlook CH= ICAGO, Jan 25 (Reuters) Utility holding company Peoples Energy Corp. said o= n Friday that fiscal first-quarter 2002 profits fell 12 percent and operati= ng revenues fell 47 percent, blaming mild winter weather that dampened dema= nd for natural gas. International Peruvian president offers natio= n's ports to neighboring Bolivia for gas exports LA PAZ, Bolivia, Jan 25,= 2002 (AP WorldStream via COMTEX) -- Peruvian President Alejandro Toledo of= fered his nation's ports for the exportation of Bolivian gas to North Ameri= ca. Metrogas Under Fire for Negligence Mexico, Jan 25, 2002 (BNameri= cas.com via COMTEX) -- Mexican gas distributor Metrogas may lose a license = to expand its distribution network for not repairing roads adequately after= installing pipes, local press reported. 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