Chief

Duke Energy Corp.’s board of directors has elected Fred J. Fowler as president and chief operating officer, reporting directly to Chairman and CEO Richard B. Priory, the company announced last Monday. Fowler had been the company’s group president for energy transmission since 1997, where he oversaw Duke Energy’s interstate natural gas pipelines and Duke Energy Field Services. In the “new executive role,” Fowler will be responsible for the operations of Duke Energy’s energy businesses, including Duke Power Co., Duke Energy Gas Transmission, Duke Energy Field Services, Duke Energy International, Duke Energy Trading and Marketing and Duke/Fluor Daniel, according to the Charlotte, NC-based energy company. Fowler, a veteran of the energy business for nearly 35 years, has worked at Panhandle Trading Corp., been president of Trunkline Gas Co., president of Texas Eastern Transmission Corp. and group vice president of PanEnergy Corp. Duke Energy was created in 1997 as a result of the merger of PanEnergy and Duke Power. He currently serves as chairman of the board for the Interstate Natural Gas Association of America, which represents interstate gas pipelines, and serves on the board of Texas Eastern Products Pipeline Co.

A superior credit rating and financial acumen apparently have done little to help revive Enron Corp.’s collapsed energy trading operations. UBS Warburg Energy debuted early this year after taking over the trading business. However, the Houston-based unit has failed to produce, and 10 months later, the corporation’s president admits the “business outlook is very challenging.”

A superior credit rating and financial acumen apparently have done little to help revive Enron Corp.’s collapsed energy trading operations. UBS Warburg Energy debuted early this year after taking over the trading business. However, the Houston-based unit has failed to produce, and 10 months later, the corporation’s president admits the “business outlook is very challenging.”

U.S. natural gas production will fall more this year than it has in 16 years, roughly 5-6%, and it’s “going to get a bit uglier” in the years to come, warned Mark Papa, CEO of EOG Resources Inc. last Thursday. Even with a more ambitious drilling program next year, the decline will only be slightly contained, which will lead to “huge consequences” for the future, he told attendees at Lehman Brothers 2002 CEO Energy/Power Conference in New York City.

U.S. natural gas production will fall more this year than it has in 16 years, roughly 5-6%, and it’s “going to get a bit uglier” in the years to come, warned Mark Papa, CEO of EOG Resources Inc. on Thursday. Even with a more ambitious drilling program next year, the decline will only be slightly contained, which will lead to “huge consequences” for the future, he told attendees at Lehman Brothers 2002 CEO Energy/Power Conference in New York City.

FERC Chief Administrative Law Judge Curtis L. Wagner, citing progress toward settling at least 80% of an estimated 24 long-term contracts in dispute between power suppliers and California’s Department of Water Resources (DWR), said late last Tuesday he was scheduling additional settlement meetings for Aug. 28-30.

FERC Chief Administrative Law Judge Curtis L. Wagner said last week he expects to issue an initial decision by the end of August in a long-standing complaint case brought by California regulators, accusing El Paso Natural Gas of withholding transportation capacity from customers during the 2000-2001 heating season in an attempt to drive up prices for natural gas delivered to the Southern California border.

FERC Chief Administrative Law Judge Curtis L. Wagner said Tuesday he expects to issue an initial decision by the end of August in a long-standing complaint case brought by California regulators, accusing El Paso Natural Gas of withholding transportation capacity from customers during the 2000-2001 heating season in an attempt to drive up prices for natural gas delivered to the Southern California border.

Citing “bad market psychology” and a restructuring charge as the chief culprits, energy trading leader Mirant reported last week a net loss of $151 million, or minus 38 cents per diluted share, for the second quarter against a profit of $145 million, or 36 cents a share, for the comparable period a year ago.