Completion

NGPL reported completion of repairs on a leak discovered late last week on its A/G Line in Bryan County, OK (see Daily GPI, Aug. 14). The pipeline resumed scheduling of ITS/AOR and Secondary transport volumes through Stations 109, 110 and 801 Thursday.

National Grid USA’s proposed purchase of Niagara Mohawk Holdings Inc. moved one step closer to completion last Wednesday after the Federal Energy Regulatory Commission gave its blessing to the deal. The merger, currently valued at $3 billion and first unveiled in September of last year (see NGI, September 11, 2000), still needs to clear a number of regulatory hurdles before it can be completed.

National Grid USA’s proposed purchase of Niagara Mohawk Holdings Inc. moved one step closer to completion Wednesday after the Federal Energy Regulatory Commission gave its blessing to the deal. The merger, currently valued at $3 billion and first unveiled in September of last year (see Daily GPI, Sept. 6, 2000), still needs to clear a number of regulatory hurdles before it can be completed.

In a merger that would create the second largest refiner of petroleum products in the United States behind ExxonMobil Corp., San Antonio-based Valero Energy Corp. and Ultramar Diamond Shamrock Corp. (UDS) announced last week that they have entered into an agreement in which Valero will acquire UDS in a transaction valued at $6 billion.

Marking the first quarter of record since the completion of its merger with The Coastal Corp. in January, El Paso Corp. reported that its diluted adjusted earnings rose 41% to $0.96 per share, compared with the company’s first quarter 2000 level of $0.68 per share. The strong results were led by the closure of its merger as well as a strong contribution from its merchant energy group.

Plans to separate Baltimore Gas & Electric’s parent Constellation Energy Group into two publicly traded corporations remain on track for completion this year, Christian Poindexter, the company’s CEO, told shareholders at the end of last week.

Marking the first quarter of record since the completion of its merger with The Coastal Corp. in January, El Paso Corp. reported that its diluted adjusted earnings rose 41% to $0.96 per share, compared with the company’s first quarter 2000 level of $0.68 per share. The strong results were led by the closure of its merger as well as a strong contribution from its merchant energy group.

Newport Generation Inc. last Monday said it plans to build a 1,300 MW power plant in Rathdrum, ID, 32 miles northeast of Spokane, WA.

Newport Generation Inc. yesterday said it plans to build a 1,300 MW power plant in Rathdrum, ID, 32 miles northeast of Spokane, Wash.