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Three former Merrill Lynch financial executives involved in a scheme to help Enron Corp. create sham profits in 1999 surrendered to the FBI in Houston on Wednesday. The Department of Justice (DOJ) alleges that the three violated criminal law, aided and abetted Enron’s violation of criminal law and knowingly caused others to make false statements to a grand jury, the U.S. Congress, the Securities and Exchange Commission (SEC) and the Enron bankruptcy examiner.

Looking to create a better wheel, the U.S. Department of Energy (DOE) said it has teamed with the Pennsylvania State University to establish and operate a consortium on underground gas storage technology.

House Speaker J. Dennis Hastert (R-IL) is expected to announce Thursday the creation of a House task force that would recommend ways to head off a potentially dangerous shortfall in natural gas supplies later in the year.

Alaska voters approved by a wide margin last Tuesday a ballot initiative to create the Alaska Natural Gas Development Authority as a public corporation of the state for the purpose of acquiring North Slope gas and building a pipeline to deliver supplies to the Port of Valdez in Prince William Sound, where the gas would be liquefied and marketed to the Lower 48 states.

Alaska voters approved by a wide margin Tuesday a ballot initiative to create the Alaska Natural Gas Development Authority as a public corporation of the state for the purpose of acquiring North Slope gas and building a pipeline to deliver supplies to Port Valdez in Prince William Sound, where the gas would be liquefied and marketed to the Lower 48 states.

In a move that acknowledges its value to the company, Williams on Friday announced it will create a third business unit with its energy marketing and trading organizations, joining the company’s entrenched energy services and gas pipeline business segments. Marketing and trading had been part of the Tulsa company’s energy services group, and the change “should allow the investment community a better view of this segment of our company,” said Williams new President Steven J. Malcolm.

MRT advised shippers Tuesday that effective immediately it is not accepting nominations that create a long imbalance on its system. Customers with current long positions are expected to correct their imbalance by the end of this week and to remain in balance for the rest of July. No-notice customers were reminded that they may change their no-notice option and allow storage injections to eliminate their imbalance.

In a strategic deal that would create the world’s third-largest offshore driller, Pride International agreed to buy Marine Drilling Cos. for $1.92 billion in an all-stock deal last Thursday. The new company, to be called Pride International, has already received approval by both boards.

In a strategic deal that would create the world’s third-largest offshore driller, Pride International agreed to buy Marine Drilling Cos. for $1.92 billion in an all-stock deal Thursday. The new company, to be called Pride International, has already received approval by both boards.