As expected, Tulsa-based Williams Cos. said Friday it would spinoff its broadband network services provider Williams Communicationsin the form of a dividend by distributing nearly 400 millionshares, about 95% of Williams Communications common stock, toholders of the parent common stock.
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Mexico Wants 10 Power Projects This Year
Mexican officials are working to add 10 new power generationprojects this year alone to guarantee the country has an adequatesupply of electric power through 2006. Energy Minister ErnestoMartens said that based on current capacity and ongoing projects,the country only has sufficient power to meet its growth demandthrough 2004.
Futures Bounce Back as Bulls Regain Control
Dallas Cowboy fans are not alone. It has been a tough month ofSundays for natural gas bear traders as they have been forced towatch Friday’s downward price momentum gradually lose steam duringSunday evening Access trading, setting the stage for a pricerecovery when the regular open-outcry session re-opens Monday.
Energy Not Invited to Democratic Convention
California continued to sizzle through last week, but some wereoblivious. The word “energy,” let alone a policy statement on thesubject, was nearly impossible to find at the Democratic NationalConvention in Los Angeles. A media aide for the Democrats put in acomputerized search under the word “energy” in the party’s platformcommittee report on the convention Internet web site and drewblanks Monday, the opening day of the political show.
Energy Not Invited to Democratic Convention
California continued to sizzle through the week, but some wereoblivious. The word “energy,” let alone a policy statement on thesubject, was nearly impossible to find at the Democratic NationalConvention in Los Angeles this week. A media aide for the Democratsput in a computerized search under the word “energy” in the party’splatform committee report on the convention Internet web site anddrew blanks Monday, the opening day of the political show.
Chevron, Shell Partnering in Deep Gulf
They might both be majors, but Chevron U.S.A. Production Co. andShell Exploration & Production Co. still think it’s wise to notgo it alone in the deep waters of the Gulf of Mexico. The companieshave agreed to share drilling rigs and jointly drill twoexploratory wells there this year.
Anadarko Sees Major Oil Recovery on Horizon
Anadarko CEO Robert J. Allison Jr. is not alone in predicting asustained oil market recovery now that OPEC has decided it can livewith a little less supply on the market. But unlike most of theother optimistic soothsayers attending the Howard Weil EnergyConference in New Orleans last week, Allison sees a majorturnaround ahead and much greater volatility than has been presentin market cycles of the past.
Anadarko Sees Major Oil Recovery on Horizon
Anadarko CEO Robert J. Allison Jr. is not alone in predicting asustained oil market recovery now that OPEC has decided it can livewith a little less supply on the market. But unlike most of thesoothsayers attending the Howard Weil Energy Conference in NewOrleans, Allison sees a major turnaround ahead and much greatervolatility than has been present in market cycles of the past.
Oneok-Southwest Merger Creates Largest U.S. Distributor
The combination announced last week of Oneok Inc. and SouthwestGas Corp. would be the largest stand-alone gas distributor in theUnited States, with Columbia Energy in second place, and the fourthlargest when gas and electric combination utilities are considered.The combined company would have 2.6 million customers in fivestates and would capitalize on Southwest’s growth potential andOneok’s strong balance sheet.
Oneok-Southwest Merger Would Make Largest Distributor
Oneok Inc. and Southwest Gas Corp. agreed to a merger that wouldform the largest stand-alone gas distribution company in the UnitedStates, serving 2.6 million customers in five states. ColumbiaEnergy would be No. 2 to the combined Oneok and Southwest.