Los Angeles-based Occidental Petroleum Corp. reported a 74% hike in fourth quarter income because of higher oil and natural gas prices, but the earnings still fell short of Wall Street forecasts. The company reported a profit of $665 million ($1.67/share), compared with $382 million (99 cents/share) in 4Q2003. On average, Thomson First Call had forecast 4Q2004 earnings of $1.92/share.
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Draft EIR Supports CA Offshore LNG Plans
To the consternation of local government officials and community activists in Ventura County northwest of Los Angeles, a joint federal-state draft environmental impact report (EIR) released earlier this month minimizes any safety concerns about a proposed offshore liquefied natural gas (LNG) receiving terminal 21 miles off of Oxnard, CA, as contemplated by Australian resource giant BHP Billiton.
Draft EIR Supports CA Offshore LNG Plans
To the consternation of local government officials and community activists in Ventura County northwest of Los Angeles, a joint federal-state draft environmental impact report (EIR) released earlier this month minimizes any safety concerns about a proposed offshore liquefied natural gas (LNG) receiving terminal 21 miles off of Oxnard, CA, as contemplated by Australian resource giant BHP Billiton.
Draft EIR Supports CA Offshore LNG Plans
To the consternation of local government officials and community activists in Ventura County northwest of Los Angeles, a joint federal-state draft environmental impact report (EIR) released earlier this month minimizes any safety concerns about a proposed offshore liquefied natural gas (LNG) receiving terminal 21 miles off of Oxnard, CA, as contemplated by Australian resource giant BHP Billiton.
LADWP Getting Close on Signing New Gas Supply Deals
Using authority it was granted in recent years, the Los Angeles Department of Water and Power (LADWP) is in the latter stages of year-long negotiations for “pre-paid” natural gas supplies and, in some cases, purchase of gas reserves, an official with the city-run utility told NGI on Wednesday.
LADWP Getting Close on Signing New Gas Supply Deals
Using authority it was granted in recent years, the Los Angeles Department of Water and Power (LADWP) is in the latter stages of year-long negotiations for “pre-paid” natural gas supplies and, in some cases, purchase of gas reserves, an official with the city-run utility told NGI on Wednesday.
10 Years After Massive Quake, SoCalGas Assesses Delivery System
Nearing the 10-year anniversary of the Northridge earthquake that jolted the Los Angeles metropolitan area awake in the still-dark early morning hours of Jan. 17, 1994, one of the major utilities impacted, Sempra Energy’s Southern California Gas Co., looked back Tuesday over how its largest-in-the-nation gas infrastructure has been upgraded over the past decade.
Court Expected to Act Soon to Finalize El Paso Settlement with Four States
Los Angeles, CA–(NGI News)–Nov 26, 2003–A California Superior Court in San Diego is expected to rule the first week of December in the $1.6 billion settlement between El Paso Corp. and four western states, the principal one being California. Two separate court approvals are needed before the Federal Energy Regulatory Commission-approved deal can be made final, both of which could come before the end of the year.
LADWP Considers Suing Reliant Over Past Gas Supply Contract
The nation’s largest municipal utility, the Los Angeles Department of Water and Power (LADWP), said Monday its legal counsel is currently assessing whether the giant city-run utility will file a lawsuit against Houston-based Reliant Energy for in excess of $200 million of alleged overcharges in a 1999-2001 natural gas supply deal, according to LADWP’s General Manager David Wiggs. “We’ll know in a couple of weeks whether we’ll go ahead with a lawsuit,” Wiggs said during a brief interview Monday with NGI.
Summer Peaks, Gas Prices Worry CA Economic Forecaster
Los Angeles County Economic Development Corp. (LAEDC), a nonprofit economic development group, indicated in its latest weekly economic outlook for the region and state that energy this summer could be a worrisome component of the state’s sagging economy. It particularly targeted the potential ill-effects of high natural gas prices, which could be felt more severely in the East than the West, the forecast noted.