Coastal Oil and Gas has announced it is selling its interests in36 offshore oil and gas holdings. The offshore leases are locatedin the Gulf of Mexico, in blocks ranging from offshore of Alabamato south of Texas. When asked about the reasons for selling theseleases, spokesperson Dorothy Beeler said it was just “ongoingportfolio asset management,” and that it had nothing to do withCoastal’s planned merger with El Paso Energy.

Usource, a subsidiary of Unitil, continues to expand its servicearea by unveiling www.PhillyEnergy.com over the weekend. NowPhiladelphia-area business customers can get in on Usource’s onlineauction house for their energy needs (see Daily GPI, May 31). Developed for the mid-sizedbusiness customer, PhillyEnergy.com posts a customer’s energy needs,then lets over 50 pre-qualified suppliers bid on that customer. Thelowest bidder wins and the customer gets the best deal.

International Fuel Cells Inc., a United Technologies Company,announced a joint project Monday with vehicle manufacturer ThorIndustries and ISE Research to build a cleaner bus. ThorIndustries said that by the middle of 2001 the firstcommercially-viable, fuel cell-powered, zero emission transit buswould hit the streets.IFC is the world’s largest manufacturer offuel cells and Thor Industries is the largest mid-sized busbuilder. ISE Research will provide the hybrid system and performthe fuel cell systems integration. They contend the prices of thefuel-cell powered buses will be competitive with traditional buses,as well as more reliable, more efficient, and more environmentallyfriendly.

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