Claimed

Former Enron Corp. CFO Andrew Fastow claimed in court affidavits that cash payments made to him and his family by one of his former top lieutenants “were paid to us voluntarily and out of friendship, and therefore, were not taxable income.” The affidavits, taken months before he and his wife pleaded guilty to various crimes, may help Enron founder Kenneth Lay, former CEO Jeffrey Skilling and former Chief Accountant Richard Causey as they prepare to go to trial next month, a defense lawyer said.

Cheniere Energy Inc., which has claimed a large stake in building liquefied natural gas (LNG) along the Gulf Coast, reported Friday that it had a net loss of $9.2 million (minus 18 cents/share) in the first quarter, compared with a net loss of $1.1 million (minus 3 cents) in 1Q2004.

The New York Mercantile Exchange (Nymex) claimed a legal victory last week after a court dismissed antitrust charges by the Intercontinental Exchange regarding the use of Nymex settlement prices in ICE clearing procedures. But ICE also found something to like in the court decision, which left the key issues for the Commodity Futures Trading Commission (CFTC) to decide.

After creating a pretty good scare for Gulf of Mexico producers at the end of last week, Tropical Storm Erika remained just that, a tropical storm, failing to reach hurricane status as it made landfall Saturday approximately 30 miles south of Brownsville, TX on the edge of the Mexican border city of Matamoros.

El Paso Energy Partners LP (EPN) claimed earnings and income records for 2002, and Monday, as management laid out its ambitious plans for 2003, it emphasized how it will grow independently and separately from general partner El Paso Corp.

El Paso Energy Partners LP (EPN) claimed earnings and income records for 2002, and Monday, as management laid out its ambitious plans for 2003, it emphasized how it will grow independently and separately from general partner El Paso Corp.

Rapidly escalating natural gas costs claimed another casualty in the fertilizer industry on Thursday as Mississippi Chemical Corp. announced the shut-down of its Donaldsonville, LA, nitrogen complex. While the price of natural gas, a feedstock for some chemicals, continues to climb, there has not been a corresponding rise in chemical and fertilizer prices, and much of the nation’s fertilizer production has moved overseas.

Rapidly escalating natural gas costs claimed another casualty in the fertilizer industry on Thursday as Mississippi Chemical Corp. announced the shut-down of its Donaldsonville, LA, nitrogen complex. While the price of natural gas, a feedstock for some chemicals, continues to climb, there has not been a corresponding rise in chemical and fertilizer prices, and much of the nation’s fertilizer production has moved overseas.

The Canadian Association of Petroleum Producers (CAPP) Friday saw its challenge to a rate increase for Northwest Pipeline, which it claimed would result in an excessive rate of return and unduly high rates, refused by the federal Appeals Court for the District of Columbia (00-1498).