Dollar

Western utilities have scored a major victory in their effort to get out from under their multi-million-dollar power contracts that they negotiated with Enron Corp. affiliates during the power crisis of 2000-2001.

Northeast losses of up to half a dollar led overall softening in the cash market Thursday as the scraps of heating load that had given mild support to prices at midweek continued to recede. Declines outside the Northeast were generally modest, with most in single digits and some points hanging in there with flat performances.

Despite the dark shadow of a multi-billion-dollar, class-action lawsuit, alleging wholesale natural gas price manipulation, set for trial, San Diego-based Sempra Energy found plenty of reason to celebrate last week. The company negotiated a 15-year, $1.4 billion agreement to deliver to Mexico’s federal power agency a large portion of the liquefied natural gas (LNG) supplies that will arrive at its proposed North Baja receiving terminal.

Crude oil futures continued their recent record-setting ways Tuesday, jumping more than a dollar to $51.09/bbl — the first daily settlement ever above $51. And although some natural gas traders may have felt it was akin to comparing apples with oranges, gas in both its physical and Nymex forms tried to emulate petroleum’s strength as best it could.

The issue of liquids in the gas stream, a high dollar topic currently being debated in several forums, has reached a high decibel level in a tariff filing by ANR Pipeline. But while various segments of the industry maneuver for position on the generic issue, ANR wants to limit the debate to standards for running its own pipeline in the here and now.

The issue of liquids in the gas stream, a high dollar topic currently being debated in several forums, has reached a high decibel level in a tariff filing by ANR Pipeline. But while various segments of the industry maneuver for position on the generic issue, ANR wants to limit the debate to standards for running its own pipeline in the here and now.

ONEOK Energy Marketing & Trading on Friday signed multi-year, multi-million dollar gas supply agreement with Chicago-based Peoples Gas Light and Coke Co. Although the companies did not specify the quantity of gas to be delivered by ONEOK at the Chicago citygate, ONEOK said that based on current futures prices, gas revenues under the agreement would total $300-575 million.

ONEOK Energy Marketing & Trading on Friday signed multi-year, multi-million dollar gas supply agreement with Chicago-based Peoples Gas Light and Coke Co. Although the companies did not specify the quantity of gas to be delivered by ONEOK at the Chicago citygate, ONEOK said that based on current futures prices, gas revenues under the agreement would total $300-575 million.

Despite the fact that trading volumes remained light due to Passover and upcoming Good Friday, May natural gas futures shimmied up 6.3 cents to close at $5.872, halting a two-day stretch during which the daily changes were less than a penny.