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| DATA CENTER WEDNESDAY, FEBRUARY 6, 2002 =09

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37 TOP STORIES Recent Talks on Alaska Gas-Pipeline Project Were=
Successful, Leaders Say By Liz Ruskin, Anchorage Daily News, Alaska, Feb.=
5 Alaska's natural gas producers met here Monday with U.S. and Canadian pi=
peline companies, and while they're not much closer to building a line to m=
ove North Slope gas, political leaders who attended declared the event a su=
ccess. Kinder Morgan affirms guidance, ups share buyback HOUSTON, Feb =
5 (Reuters) Energy company Kinder Morgan Inc. on Tuesday said it was comfor=
table with the low end of its 2002 earnings per share guidance and increase=
d the value of its share buyback program. FEATURE-Myanmar: a niche gas =
producer? By Godwin Chellam, SINGAPORE, Feb 5 (Reuters) Myanmar's success =
in finding oil and gas has been patchy with more misses than hits in the 12=
years since it rolled out the welcome mat for foreign explorers. Enro=
n Debacle Enron's Lay will accept subpoenas By T.K. MALOY AND SCOTT =
BURNELL, WASHINGTON, Feb 05, 2002 (United Press International via COMTEX) -=
- A lawyer for former Enron Chairman Kenneth Lay said Tuesday his client wi=
ll accept congressional subpoenas after earlier questions concerning his wh=
ereabouts, a spokeswoman for the House Financial Services Committee said. =
Former Enron Accountant Says Worker-Benefits Funds Were Spent Elsewhere=
By Kristen Mack, Houston Chronicle, Feb. 5 A former senior accountant at =
Enron told CBS News that the company took at least $15 million from legally=
protected worker-benefits accounts and spent it elsewhere. Dynegy Law=
yer Says Enron Only Has Itself to Blame By Bill Murphy, Houston Chronicle,=
Feb. 5 Enron has only itself to blame for going bankrupt after Dynegy call=
ed off a proposed merger in December, Dynegy's lawyer said Monday. Cha=
ir of Enron Board's Investigative Group Says Findings `Appalling' By Patri=
ce Hill, The Washington Times, Feb. 5 Emerging evidence of Enron's "systema=
tic and pervasive attempt" to misrepresent its financial condition rattled =
stock investors yesterday and evoked pledges of swift enforcement and stepp=
ed-up regulation on Capitol Hill. Andersen CEO says Enron panel rebuff=
ed auditor input WASHINGTON, Feb 5 (Reuters) - An Enron Corp. special boar=
d committee probing the energy trader's collapse ignored efforts by the com=
pany's long-time auditor Andersen to tell its side of the story, the chief =
executive of the Big Five accounting firm said on Tuesday. Former Enro=
n CEO Lay Was Smart to Back Out of Testifying, Experts Say By Michelle Mit=
telstadt, The Dallas Morning News, Feb. 5 Former Enron chief executive Kenn=
eth Lay's eleventh-hour decision to cancel a long-promised congressional ap=
pearance Monday drew a torrent of media attention, criticism from key polit=
icians and the pledge of a Senate subpoena. Former Chairman Steps Down=
from Enron's Board of Directors By Julie Mason, Houston Chronicle, Feb. 5=
Former Enron Corp. Chairman Ken Lay resigned from the company's board of d=
irectors Monday, as irate lawmakers prepared subpoenas that would force him=
to appear on Capitol Hill. Former Enron Workers Who Traveled to Washi=
ngton, D.C., Irked at Lay's No-Show By Patty Reinert, Houston Chronicle, F=
eb. 5 Laid-off Enron Corp. workers, who traveled to Washington in hopes of =
confronting Ken Lay, said they were angry Monday that their former chairman=
backed out of his promise to testify before Congress. Critics Say Enr=
on Report Lets Board Off Too Easy Chicago Tribune, Feb. 5 The report commi=
ssioned by Enron Corp.'s board on the company's stunning collapse castigate=
s the company's auditors and former managers, but its more benign tone towa=
rd the board itself is drawing criticism from outside observers. Legal=
Experts Worry Government Investigations of Enron Will Collide By Naftali =
Bendavid, Chicago Tribune, Feb. 5 Former Enron Corp. Chairman Kenneth Lay's=
decision to cancel an appearance before Congress this week, after lawmaker=
s publicly speculated about his criminal guilt, highlights a growing concer=
n of legal analysts: The investigations of Enron by Congress and the Justic=
e Department are beginning to collide. FACTBOX-Congress hearings sched=
ule on Enron/Andersen WASHINGTON, Feb 4 (Reuters) The following are the he=
arings that the U.S. Congress has firmly scheduled on the collapse of Enron=
Corp., the role of its auditor Andersen, and related regulatory issues ove=
r the coming weeks. Latest information added is marked with *. Enron b=
oard to put accounting execs on leave-WSJ NEW YORK, Feb 5 (Reuters) - Enro=
n Corp.'s board is expected to put the company's two top accounting officer=
s on administrative leave this week in response to an internal report that =
says neither did his job adequately, The Wall Street Journal's online editi=
on reported on Tuesday. Enron Probe Author Connected to Co. By KRIST=
EN HAYS Associated Press Writer, HOUSTON, Feb 05, 2002 (AP Online via COMTE=
X) -- Appointed to Enron's board in October to investigate the company's ac=
counting practices, William C. Powers Jr. knew he would be accused of havin=
g a conflict of interest. Bush rejects idea of special counsel for Enr=
on PITTSBURGH, Feb 05, 2002 (AFX-Asia via COMTEX) -- President George W. =
Bush has rejected the idea of naming a special counsel to investigate links=
between his administration and bankrupt energy firm Enron. Enron wind=
s up mainland operations Feb 05 - South China Morning Post Enron is windin=
g up its China operations, with foreign and domestic firms competing for it=
s controlling share of a major power station in the southwest city of Cheng=
du. Experts Say Enron Debacle to Bring Major Changes to Accounting Ind=
ustry By Wayne Heilman, The Gazette, Colorado Springs, Colo., Feb. 4 The c=
ollapse of Enron Corp. will result in major changes in the accounting indus=
try and the relationship between accounting firms, their consultancies and =
their clients. Treasury's O'Neill-need more CEO accountability WASHIN=
GTON, Feb 5 (Reuters) Treasury Secretary Paul O'Neill, speaking as the Enro=
n scandal unfolds, said on Tuesday the Bush administration would push for m=
ore accountability from corporate chieftains in a planned revamp of busines=
s disclosure requirements. Lawyers suing Enron criticize shortcomings =
of internal probe BRAD FOSS, HOUSTON, Feb 04, 2002 (The Canadian Press via=
COMTEX) -- While an internal investigation at Enron Corp. has supplied a r=
oadmap for some complex tactics used to hide debt and inflate profits, it l=
eaves uncharted a maze of other activities and lines of responsibility. =
Tauzin calls Enron report 'devastating' WASHINGTON, Feb 05, 2002 (Unite=
d Press International via COMTEX) -- The chairman of the House Energy Cmmit=
tee said Tuesday that an internal Enron report "painted a devastating pictu=
re" of the company's management. Ministers deny Enron links were impro=
per Feb 04 - Evening Standard - London SENIOR ministers and other leading =
public figures have rushed to distance themselves from US energy giant Enro=
n in the continuing fallout from the company's pounds 55 billion collapse. =
George Washington U. alum figures prominently in Enron investigation =
By Patrick Higgins, WASHINGTON, Feb 04, 2002 (The GW Hatchet, U-WIRE via C=
OMTEX) -- Although several major news organizations have included a teachin=
g stint at George Washington University in former Enron Corp. CEO Kenneth L=
ay's background, no record of him as a professor exists at the University. =
Astros Want to Drop Enron Field Name HOUSTON, Feb 05, 2002 (AP Online=
via COMTEX) -- The Houston Astros want to shed the name of Enron Field. =
Mergers, Acquisitions & Divestitures Tulsa, Okla.-Based Energy Comp=
any Might Sell Assets to Keep Credit Rating By Russell Ray, Tulsa World, O=
kla., Feb. 5 After learning that its credit rating may be lowered, Williams=
Cos. Inc. said Monday it is prepared to sell more assets and shares to ret=
ain its investment-grade rating. Analysis: EnCana merger to be player =
By E.W. KIECKHEFER, United Press International, Feb 05, 2002 (United Pres=
s International via COMTEX) -- The announced plan to merge PanCanadian Ener=
gy and Alberta Energy Co. is being billed as the creation of one of the wor=
ld's biggest independent oil and gas companies, opening the way for the new=
entity to become a major player. Divestiture Dynamics: Wholesale Focu=
s, Efforts to Strengthen Balance Sheets Represent Growing Trend By Will Mc=
Namara, IssueAlert, Feb. 5 (Scientech) Victorian electricity retailer and n=
etwork company CitiPower is set to be sold by trade sale or initial public =
offering later this year following American Electric Power's decision to di=
vest the asset. Special Offer from this Publisher! ADVERTISEMENT =
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plant performance, identify trends of lost generation and causes of poor pe=
rformance. Download your free trial version today at http://www.energycentr=
al.com/sections/databases/OPEC . Gas Pricing/Hubs Canadian nat=
gas spot prices mixed, west declines CALGARY, Alberta, Feb 5 (Reuters) Spo=
t natural gas prices across Canada were mixed on Tuesday in moderate activi=
ty, tight trading ranges and warm weather, industry sources said. NYME=
X Hub gas ends mixed, fronts lose despite cold NEW YORK, Feb 5 (Reuters) N=
YMEX Hub gas ended mixed Tuesday despite frigid temperatures in the Northea=
st, hit by moderate weather forecasts for next week and technical selling w=
hen an early attempt to move higher stalled, sources said. Natural Gas=
Spot Values Mixed on Weather, Supplies Feb. 5 (Btu's Daily Gas Wire) The =
physical natural gas market was mixed today as pipeline constraints and reg=
ional weather influenced regional prices. Special Offer from this Publisher=
! Cold weather extends U.S. spot natural gas gains SAN FRANCISCO, Fe=
b 5 (Reuters) U.S. day-ahead natural gas prices got a slight lift on most p=
ipelines Tuesday, as cold weather kicked up energy demand in many parts of =
the nation. Production PanCanadian flying high with Buzzard oil w=
ell CALGARY, Alberta, Feb 5 (Reuters) PanCanadian Energy Corp., Canada's t=
op producer now in the process of completing a C$27-billion ($17 billion) m=
erger with Alberta Energy Co. Ltd., said on Tuesday a well from its highly =
regarded North Sea oil discovery flowed 11,100 barrels per day. ExxonM=
obil begins oil production at Larut field, South China Sea KUALA LUMPUR, =
Feb 05, 2002 (AFX-Asia via COMTEX) -- ExxonMobil Exploration and Production=
Malaysia Inc said it has begun oil production at its Larut field in the So=
uth China Sea. Drilling/Exploration Bush's Budget Portends a New =
Fight over Oil Drilling in Arctic Wildlife Refuge By Beth Daley, The Bosto=
n Globe, Feb. 5 President Bush's proposed budget renews his call for oil ex=
ploration in the Arctic National Wildlife Refuge, promising a second year o=
f bitter confrontation with environmentalists. Daschle says has votes =
to block Arctic oil drilling Tom Doggett, WASHINGTON, Feb 5 (Reuters) Sena=
te Majority Leader Tom Daschle said on Tuesday he has the votes necessary t=
o block Republicans from adding language to a broad energy policy that woul=
d allow oil drilling in the Arctic National Wildlife Refuge. LNG =
BP has potential US$10bn outlay on LNG projects By Tony Gray, Jan 29, 2002=
(Lloyd's List Daily Commercial News - ABIX via COMTEX) -- BP Amoco will sp=
end $A10bn on various liquefied natural gas (LNG) projects around the world=
if all of its proposals reach fruition. Pipelines PetroChina/She=
ll 18 bln usd gas pipeline to go ahead HONG KONG, Feb 05, 2002 (AFX-Europ=
e via COMTEX) -- PetroChina Co Ltd said its feasibility study on the 18 bln=
usd 4,000 km west to east gas pipeline project has been approved by the Ch=
inese government. Gazprom's Fyodorov says Polish pipeline project aban=
doned MOSCOW, Feb 05, 2002 (AFX-Europe via COMTEX) -- OAO Gazprom is withd=
rawing from the planned construction of a pipeline in Poland, intended to j=
oin western Europe, because weak gas prices threatened the financing of the=
project, Gazprom board director Boris Fyodorov said. Room for a view =
?; Pipeline might harm overlook at Hawks Nest Feb 05 - Sunday Gazette - Ma=
il - Charleston, W.Va. The superintendent of Hawks Nest State Park describe=
s the view from his park as "picturesque. Transmission Shortfall =
Could Delay Area Gas Line; $20 Million Still Needed To Complete Installatio=
n Feb 05 - Virginian - Pilot A $20 million shortfall could delay for years=
the arrival of natural gas in the southern half of Currituck County and al=
l of Hyde and Tyrrell counties unless officials find a way to cut costs. =
General Pennsylvania Landfill Magnate Paid Nothing for PG Energy's =
860 Acres By Dave Janoski, The Times Leader, Wilkes-Barre, Pa. Feb. 4 One =
year before PG Energy Inc. sold 40,000 acres of environmentally sensitive l=
and to landfill magnate Louis DeNaples for $12.3 million, the utility trans=
ferred 860 similar acres, worth at least $400,000, to a DeNaples company. =
Joint Ventures & Alliances Enterprise Oil, Innogy in gas alliance =
LONDON, Feb 05, 2002 (AFX-Europe via COMTEX) -- Enterprise Oil PLC announ=
ced it is forming with Innogy PLC a natural gas market alliance in North-We=
st Europe. Trading/Marketing AIG, Chubb pay up to $300 mln on Enr=
on gas deal By Chris Sanders, NEW YORK, Feb 5 (Reuters) Insurers American =
International Group Inc. and Chubb Corp. have agreed to pay up to $300 mill=
ion to investors in a gas-buying consortium, power industry sources said, a=
fter a unit of bankrupt Enron Corp. failed to keep its side of a delivery c=
ontract. Exchange rivals NYMEX, ICE in alliance talks By Andrew Mitch=
ell, NEW YORK, Feb 5 (Reuters) Commodity exchange rivals New York Mercantil=
e Exchange and web-based Intercontinental Exchange have reopened talks aime=
d at an alliance, a source close to the negotiations said on Tuesday. =
Power Projects House Bill Would Tap Southern N.M. Gas Reserve Feb 05,=
2002 - Albuquerque Journal The development of a state-owned power plant --=
fired by natural gas from a large, untapped reserve in Otero County -- is =
being promoted by Rep. Terry Marquardt. Labor/Human Resources Bri=
tish Natural Gas Company Reportedly to Announce Job Cuts By Robert Lea, Ev=
ening Standard, London, Feb. 4 Up to 2000 job losses are expected to be ann=
ounced on Thursday when Lattice Group reveals a major restructuring of its =
Transco national gas distribution operation. Environmental Tulsa,=
Okla., Companies Settle Colorado Clean-Air Lawsuit By Robert E. Boczkiewi=
cz, The Daily Oklahoman, Feb. 2 For the second time in a little more than a=
year, Williams Gas Processing Co. Inc. of Tulsa and a sister company, Will=
iams Field Services Inc., have consented to pay almost $1 million to settle=
a lawsuit in Colorado filed by the U.S. Environmental Protection Agency. =
Financial - Ratings Moody's to review ratings process By Rebecca=
Hewett, Feb 4, 2002 (Investor Weekly - ABIX via COMTEX) -- The demise of E=
nron has led financial ratings agency, Moody's, to institute a review of it=
s procedures. Financial - Results Transocean posts profit after y=
ear-earlier loss HOUSTON, Feb 5 (Reuters) - Transocean Sedco Forex Inc., t=
he world's biggest offshore oil and gas drilling contractor, reported Tuesd=
ay a fourth-quarter profit after one-time charges pushed it to a loss in th=
e same period of 2000. Pioneer Natural posts Q4 loss amid Argentine pe=
so fall DALLAS, Feb 5 (Reuters) Pioneer Natural Resources Co., an independ=
ent oil and gas explorer and developer, on Tuesday reported a fourth-quarte=
r loss as it took charges to cover the devaluation of the Argentine peso. =
Ameren earnings rise up over 19 percent ST. LOUIS, Mo., Feb 5 (Reuters=
) Midwestern energy merchant Ameren Corp. said on Tuesday fourth-quarter ea=
rnings, before unusual items, rose more than 19 percent as increased electr=
icity sales offset weaker prices. International Enterprise Oil gr=
asps bid defence nettle LONDON, Feb 5 (Reuters) - Britain's Enterprise Oil=
on Tuesday promised long-suffering shareholders a better future, with a co=
cktail of measures aimed at warding off a potential takeover bid. US i=
nvestment body to finance Unocal/Pertamina oil, gas projects in Indonesia =
JAKARTA, Feb 04, 2002 (AFX-Asia via COMTEX) -- The Overseas Private Invest=
ment Corp (OPIC) said it will provide 350 mln usd to support two offshore o=
il and gas projects in Indonesia. Petrobras to acquire Enron' assets =
Brazil, Feb 2, 2002 (Jornal do Commercio/SABI via COMTEX) -- The Brazilian=
state owned oil and gas company Petrobras is planning to lose the control =
of gas pipeline Gasbol (Gasoduto Bolivia-Brasil) to acquire the shares of t=
he US Enron in CEG and CEGRio. Russia-Turkey gas project realistic -- =
minister By Andrei Palaria, ANKARA, Feb 05, 2002 (Itar-Tass via COMTEX) -=
- Turkey needs the Blue Stream project of Russia's gas exports, Energy Mini=
ster Zeki Cakan said. Tractebel suspected of financial irregularities =
Feb 5, 2002, (Le Monde /FT Information via COMTEX) -- Tractebel, the energ=
y subsidiary of French utilities group Suez, which is active in Belgium and=
elsewhere, has not only been instructed by the Belgian tax authorities to =
make the largest back payment of tax in the country's history, but is also =
being investigated by the courts on suspicion of irregular accounting and u=
sing a secret fund, apparently fuelled by offshore companies, to make subst=
antial under-the-table payments to managers. New management to Ukraine=
's oil and gas monopoly appointed KIEV, Ukraine, Feb 05, 2002 (AP WorldSt=
ream via COMTEX) -- Ukraine's President Leonid Kuchma fired the head of the=
country's Naftogaz state oil and gas monopoly and replaced him with an oil=
magnate, the government press service said Tuesday. Hungary govt to p=
hase in gas privatization from 2003 BUDAPEST, Feb 05, 2002 (AFX-Europe vi=
a COMTEX) -- The government plans to launch the phased privatization of its=
gas sector from 2003, to bring it in line with EU standards, the economy m=
inistry said. If you are an Energy Central News Subscriber and you h=
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