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Despite experiencing a slight decline in income from its natural gas transmission business, TransCanada PipeLines Ltd. on Friday said its first quarter 2003 earnings marked an 11% increase over the company’s first quarter 2002 results. The company attributed the higher earnings to the strong performance of the power business and reduced net expenses in the corporate segment, partially offset by lower earnings from the transmission segment.

Despite experiencing a slight decline in income from its natural gas transmission business, TransCanada PipeLines Ltd. on Friday said its first quarter 2003 earnings marked an 11% increase over the company’s first quarter 2002 results. The company attributed the higher earnings to the strong performance of the power business and reduced net expenses in the corporate segment, partially offset by lower earnings from the transmission segment.

Despite the Alaskan gas pipeline project being deemed uneconomic at the end of a study conducted by BP, ExxonMobil and ConocoPhillips, David Welch, BP president of Alaska-Canada Gas, said Thursday the company’s new fiscal package could not only make the project viable, but more importantly, could get it up and running by the end of 2011 if the energy bill goes through this year.

Despite the Alaskan gas pipeline project being deemed uneconomic at the end of a study conducted by BP, ExxonMobil and ConocoPhillips, David Welch, BP president of Alaska-Canada Gas, said Thursday the company’s new fiscal package could not only make the project viable, but more importantly, could get it up and running by the end of 2011 if the energy bill goes through this year.

IntercontinentalExchange deemed the first week of business for itsB2B electronic over-the-counter precious metals marketplace a success,with “no hours of down time” and “growth in both volume andcustomers.” The online scalable trading system called “The ICE,”traded precious metals spot, forwards and options within its firstweek of service (see Daily GPI, Aug. 25).

Using results from their latest Y2K survey as proof, the NaturalGas Council and the American Petroleum Institute (API) deemed theirworking group, formed to spur on Y2K readiness throughout the oiland gas industries, a success. With over two months to go, 93% ofthe oil and gas companies surveyed said their embedded systems areready for the Year 2000 and the rest expect to be done soon,leaders of the working group said at the National Press Club inWashington D.C. last week.

Using results from their latest Y2K survey as proof, the NaturalGas Council and the American Petroleum Institute (API) deemed theirworking group, formed to spur on Y2K readiness throughout the oiland gas industries, a success. With over two months to go, 93% ofthe oil and gas companies surveyed said their embedded systems areready for the Year 2000 and the rest expect to be done soon,leaders of the working group said at the National Press Club inWashington D.C. yesterday.