Financial

About 40 angry union workers blasted El Paso Corp.’s safety and financial record last Wednesday morning in front of the Federal Energy Regulatory Commission, where commissioners were holding their regular bi-weekly meeting. The AFL-CIO affiliated Pipeline Workers of America (PWOA) handed out flyers that said, “Say No to Blue Atlantic,” El Paso’s proposed 1,000-mile, 36-inch diameter Atlantic pipeline system that would bring gas to New York and New Jersey from offshore Nova Scotia.

About 40 angry union workers blasted El Paso Corp.’s safety and financial record Wednesday morning in front of the Federal Energy Regulatory Commission, where commissioners were holding their regular bi-weekly meeting. The AFL-CIO affiliated Pipeline Workers of America (PWOA) handed out flyers that said, “Say No to Blue Atlantic,” El Paso’s proposed 1,000-mile, 36-inch diameter Atlantic pipeline system that would bring gas to New York and New Jersey from offshore Nova Scotia.

A dwindling number of attractive drilling targets in the United States and a tough financial environment were the leading reasons exploration and production (E&P) companies said they planned to spend less next year in the United States, according to an annual survey by Lehman Brothers.

A dwindling number of attractive drilling targets in the United States and a tough financial environment were the leading reasons exploration and production (E&P) companies said they planned to spend less next year in the United States, according to an annual survey by Lehman Brothers.

A claim by a former employee for the Financial Times’ (FT) subsidiary Resource Data International (RDI) Monday before a California state Senate committee alleging that FT’s Gas Daily natural gas price index was manipulated by traders, brought a prompt retort from Gas Daily’s current owner that the account was a “misrepresentation of the facts.”

A superior credit rating and financial acumen apparently have done little to help revive Enron Corp.’s collapsed energy trading operations. UBS Warburg Energy debuted early this year after taking over the trading business. However, the Houston-based unit has failed to produce, and 10 months later, the corporation’s president admits the “business outlook is very challenging.”

A superior credit rating and financial acumen apparently have done little to help revive Enron Corp.’s collapsed energy trading operations. UBS Warburg Energy debuted early this year after taking over the trading business. However, the Houston-based unit has failed to produce, and 10 months later, the corporation’s president admits the “business outlook is very challenging.”

TXU Corp. will write off $4.241 billion in obligations against failing subsidiary TXU Europe LLC, according to a pro forma financial filing 8-K with the Securities and Exchange Commission on Tuesday. The adjustments for the fourth quarter will include “anticipated obligations” to pull out of Europe, which totals about $3.611 billion to write off the European investment.

San Francisco-based PG&E Corp. tossed aside the current financial struggles of both its regulated and merchant lines of business , announcing Thursday that it is a charter member of a new private-sector nonprofit, the California Climate Action Registry, a state-created voluntary registry for greenhouse gas emissions. All of PG&E’s businesses will report their greenhouse gas emissions associated with the generation, transmission, distribution and storage of natural gas and electricity in California.