Avoid

PG&E Corp. managed to avoid being added to the recession’s casualty list on Tuesday as proceeds from a multi-year tax settlement pushed 4Q2008 consolidated net income to $517 million, or $1.37/share, which is more than double the $203 million, or 56 cents/share, in the same quarter of 2007.

Liquefied natural gas (LNG) cargoes generally do not avoid the U.S. market when gas prices here are low, according to analysts at Barclays Capital, who offer a list of other factors that drive LNG movement to the United States far more than price.

ANR said Tuesday it has completed unplanned engine maintenance at the Sandwich (IL) Compressor Station and lifted associated capacity restrictions (see Daily GPI, Oct. 1).

Liquefied natural gas (LNG) cargoes generally do not avoid the U.S. market when gas prices here are low, according to analysts at Barclays Capital, who offer a list of other factors that drive LNG movement to the United States far more than price.

British Petroleum and Amoco Corp. have found a way to avoid therecent downward spiral of energy stock prices while boosting theirreserves and production during a tough time in the oil patch. Thetwo companies announced one of the largest ever industrial mergersyesterday, creating North America’s biggest oil and gas producerand the third largest petroleum company in the world behind RoyalDutch Shell and Exxon. The deal is expected to be complete by yearsend.

Top Minerals Management Service (MMS) officials are opting for early retirement to avoid stinging questions by congressional and federal investigators about the agency’s oil and natural gas royalty recovery and royalty-in-kind (RIK) programs, said the chairman of the House Natural Resources Committee last Wednesday.

Top Minerals Management Service (MMS) officials are opting for early retirement to avoid stinging questions by congressional and federal investigators about the agency’s oil and natural gas royalty recovery and royalty-in-kind (RIK) programs, said the chairman of the House Natural Resources Committee Wednesday.

If hurricanes avoid the Gulf of Mexico again this summer, the U.S. natural gas market can expect to see a repeat of last summer when interruptions were at a minimum and prices were basically kept in check, the Natural Gas Supply Association (NGSA) said Wednesday.

The Bush administration, in order to avoid widespread litigation, needs to use “sugar” rather than a “hammer” to get producers to renegotiate their faulty 1998-1999 leases that are costing the federal government billions in lost royalties, the head of the Interior Department’s Minerals Management Service (MMS) told a House Natural Resources’ subcommittee Tuesday.