Financial

BP Amoco to Cut More Jobs Despite Strong 2Q99

Not even the best financial quarter since the fourth quarter of1997 could prevent BP Amoco from following through with itsjob-cutting plan as the company said it will cut 2,000 morepredominantly US jobs before the year is over. The integratedenergy giant has already slashed 12,500 jobs from the pay roll. Itwould not elaborate on which US jobs would be eliminated.

August 11, 1999

Low Utility Returns Drive Convergence

Convergence is going to continue in the energy industry becauseit is what customers and financial markets want; the market signalsare unmistakable, according to an industry representative and aninvestment funds manager.

July 28, 1999

Virginia Gas Co. Explores Strategic Options

Virginia Gas Co., a small integrated natural gas companyoperating in the southwestern tip of Virginia, has selectedOppenheimer Corp. as its financial advisor to conduct an evaluationof the company, its subsidiaries and affiliates, and strategicalternatives available.

June 7, 1999

Virginia Gas Co. Explores Strategic Options

Virginia Gas Co., a small integrated natural gas companyoperating in the southwestern tip of Virginia, has selectedOppenheimer Corp. as its financial advisor to conduct an evaluationof the company, its subsidiaries and affiliates, and strategicalternatives available.

June 7, 1999

Year-End Financial Reports are a Testament to Industry Woes

The returns are coming in, and it’s safe to say 1998 was a year the energy industry – particularly producers – would like to forget. Not all energy sectors suffered equally, but shareholders in every energy province have something to grouse about judging from earnings releases and analyst reports.

January 25, 1999

Briefs

Houston Industries Wholesale Energy Group has opened an officein the financial district of San Francisco to help coordinate thecompany’s California generation, power marketing and associatedregulatory activities. “Houston Industries is a major player inCalifornia energy markets with nearly 4,000 MW of power generationcapacity and more scheduled to go on line in the region in 1999,”said Charles Oglesby, chairman of the HI Wholesale Energy Group.Mark Davis, regional marketing director, opened the San Franciscooffice in November.

December 7, 1998

Star Watch: Columbia, El Paso, Enron

The current financial stars in the pipeline firmament areColumbia Energy, El Paso Energy and Enron Corp., while distributorsto watch are AGL Resources, MarketSpan, Peoples Energy and UGICorp., according to Curt Launer, vice president of Donaldson,Lufkin & Jenrette.Prospects are good for the companiesnamed, although a biannual report by the New York investment houseshows the overall interstate gas pipeline group “has not been doingvery well” so far in 1998, with stock prices significantlyunderperforming the Standard & Poor’s 500 Index.

September 28, 1998

Names to Watch: Columbia (CG), El Paso (EPG), Enron (ENE)

The current financial stars in the pipeline firmament areColumbia Energy, El Paso Energy and Enron Corp., while distributorsto watch are AGL Resources, MarketSpan, Peoples Energy and UGICorp., according to Curt Launer, vice president of Donaldson,Lufkin &amp Jenrette. Prospects are good for the companies named,although a biannual report by the New York investment house showsthe overall interstate gas pipeline group “has not been doing verywell” so far in 1998, with stock prices significantlyunderperforming the Standard &amp Poor’s 500 Index.

September 28, 1998
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