Financial

The U.S. Minerals Management Service may feel sort of like a push-me pull-you animal in the next few months as state and federal officials argue about December’s proposed Eastern Gulf of Mexico federal lease Sale 181. The proposed leases provide a 15-mile buffer zone off Baldwin County, AL, but most are more than 100 miles from Florida — a region where drilling is opposed by Gov. Jeb Bush.

Southern California Edison’s current precarious financial position would have been avoided if federal and state regulators had done their jobs, an Edison regulatory attorney told a congressional committee in San Jose on Wednesday in the second day of a three-day sweep through California. The hearings by the House Government Reform Committee conclude in San Diego today.

BP Energy Co. has signed an agreement in principle to lend its extensive supply expertise, marketing and trading knowledge, financial products and information technology to a strategic alliance with the four Energy East Corp. distribution companies in New York and New England, the companies said last Thursday.

BP Energy Co. has signed an agreement in principle to lend itsextensive supply expertise, marketing and trading knowledge,financial products and information technology to a strategicalliance with the four Energy East Corp. distribution companies inNew York and New England, the companies said Thursday.

To stay competitively in the game, power plant players of thefuture need to manage a lot of risks: fuel, market, financial andpolitical, which can change almost as quickly as the weather,according to a panel of electric power honchos speaking at lastweek’s Cambridge Energy Research Associates’ CERAWeek 2001 meetingin Houston.

To stay competitively in the game, power plant players of thefuture need to manage a lot of risks: fuel, market, financial andpolitical, which can change almost as quickly as the weather,according to a panel of electric power honchos speaking atyesterday’s Cambridge Energy Research Associates’ CERAWeek 2001meeting in Houston.

Having disposed of most of its far-flung assets and righted itsfinancial ship in 2000, TransCanada PipeLines will be focused ongrowing its core gas transmission and power generation businessthrough its home territory in Canada and the northern tier of theU.S. in 2001.

Taking steps to ensure Nevada does not fall prey to the”financial and operational chaos” of the California energy market,Sierra Pacific Resources introduced an emergency package ofproposed long-term contracts, tiered price increases, low incomeassistance and conservation programs to stabilize energy markets inNevada.

On the heels of record financial results for the fourth quarter,Anadarko Petroleum Corp. is channeling $2.8 billion more into itscapital budget this year, a 65% increase. More than half of theswollen budget is for ongoing development drilling to increaseproduction from existing fields in Texas, the Gulf of Mexico, theRockies, Western Canada, the North Slope of Alaska and Algeria.