Drops

Moody’s Investors Service on Wednesday downgraded the long-term debt ratings of the Royal Dutch/Shell Group of companies to “Aa1” from “Aaa,” following a review that began when the oil giant announced a 20% cut to its proven oil and gas reserves.

With sources in the Northeast and Midwest feeling that they could finally say good-bye to Old Man Winter after the dude had prolonged his stay to uncomfortable lengths, it was hardly surprising to see all points united in mostly moderate softening Tuesday. Northeast citygates led the losses that ranged from about a nickel to 20 cents. Most were on either side of a dime.

The local outpouring of about 900 citizens, two-thirds of which opposed the idea of a liquefied natural gas (LNG) receiving terminal, prompted San Jose, CA-based Calpine Corp. last Wednesday to drop its plans for studying the feasibility of a LNG import terminal and other facilities in the far northern end of California in Humboldt Bay.

Apparently not wanting to try to build an energy complex against the wishes of the local community, San Jose, CA-based Calpine Corp. announced late Wednesday it was dropping its plans for developing a liquefied natural gas (LNG) terminal and other facilities in the far northern end of California in Humboldt Bay. Calpine did not say so, but it is assumed the Eureka City Council turned down the energy developer’s request for an exclusive right to assess a site on part of a little used airport.

Marathon Oil Corp. has dropped its plans to build a liquefied natural gas (LNG) terminal in Baja California after Mexican authorities took back the leases for the site the company was considering.

Marathon Oil Corp. is apparently dropping plans to build a liquefied natural gas (LNG) terminal in Baja California after Mexican authorities took back the leases for the site the company was considering.

Gas from the far North cannot arrive too soon in southern markets, according to testimony offered in a rate case before the National Energy Board by TransCanada PipeLines Ltd., which said it faces increasing “supply risk.”

Gas from the far North cannot arrive too soon in southern markets, according to testimony offered in a rate case before the National Energy Board by TransCanada PipeLines Ltd., which said it faces increasing “supply risk.”

Spurred by Friday’s screen drop of more than a quarter and generally milder weather trends, prices dropped across the board Monday. The Northeast, despite facing a new winter storm late Monday that would continue through Tuesday, again led the market’s downhill trek with declines of around a dollar or greater.