August

The energy policy act signed into law by President Bush in August “was a start,” but the nation needs energy legislation that goes far beyond that to address the run-up in prices and diminishing supplies, said the head of the National Association of Manufacturers (NAM) Tuesday.

Shell Exploration & Production said Monday that it is committed to returning to New Orleans. Since Hurricane Katrina and its aftermath hit New Orleans in August, Shell has been working out of temporary work locations in Robert and Baton Rouge, LA and Houston, TX. The company said it will soon be returning to permanent offices in New Orleans, assuming the city is fully restored and able to support full operating needs. “We expect to have a substantial number of currently displaced New Orleans Shell employees back home and back at work in the city we cherish early next year and expect almost all to return in the Q1/Q2 timeframe,” said Marvin Odum, executive vice president – EP Americas.

After penetrating lower on Monday, August natural gas staged a rebound in Tuesday’s session, trading as high as $7.470 before settling at $7.425, up 14.1 cents on the day.

With Hurricane Emily looking like less and less of a threat for long-term Gulf of Mexico shut-ins, August natural gas futures traded within a thin 12-cent range Tuesday before settling at $7.586, down 6.6 cents on the day. While logging its second consecutive down session, the prompt month was unable to get below $7.50, which is acting as a support level.

With the House Agricultural Committee set to address reauthorization of the Commodity Futures Trading Commission (CFTC) before the August recess, a group of industrial energy consumers has called on the panel to include in the process a proposal reinstating the strong market oversight authority that the CFTC had prior to the enactment of the Commodity Futures Modernization Act of 2000 (CFMA).

FERC last Tuesday reversed an August 2001 ruling that found part of Transcontinental Gas Pipe Line’s network located onshore and offshore Louisiana to be unregulated gathering and eligible to be spun down to affiliate Williams Gas Processing-Gulf Coast Co. (WGP).

FERC on Tuesday reversed an August 2001 ruling that found part of Transcontinental Gas Pipe Line’s network located onshore and offshore Louisiana to be unregulated gathering and eligible to be spun down to affiliate Williams Gas Processing-Gulf Coast Co. (WGP).

The Duke Energy natural gas storage cavern in Liberty County, TX, which sustained the most damage in an explosion and fire last August, is expected to return to service within a couple of weeks, a spokesman for Duke Energy Gas Transmission (DEGT) said Thursday.

The Duke Energy natural gas storage cavern in Liberty County, TX, which sustained the most damage in an explosion and fire last August, is expected to return to service within a couple of weeks, a spokesman for Duke Energy Gas Transmission (DEGT) said Thursday.