Formalized

Following up on its investigation of offshore drilling practices sparked by the April rig explosion and oil spill in the Gulf of Mexico, the U.S. Department of the Interior (DOI) Thursday formalized two new rules it said will help improve offshore drilling safety and spill prevention. The new rules came under immediate attack from producers, who argued they would extend the moratorium on deepwater drilling in the Gulf of Mexico even after the ban was lifted.

El Paso Corp. has formalized an agreement with officials in California, Washington, Oregon and Nevada to resolve the principal litigation and claims following the western power crisis two years ago. The formal settlement, announced on Thursday, was proposed in March (see NGI, March 24). On Friday, the participants took the final procedural step as well, which was required to ensure the settlement is completed.

El Paso Corp. has formalized an agreement with officials in California, Washington, Oregon and Nevada to resolve the principal litigation and claims following the western power crisis two years ago. The formal settlement, announced on Thursday, was proposed in March (see Daily GPI, March 25). California’s attorney general’s office, which hammered out the largest chunk of the deal, and the state’s governor immediately claimed victory and a $1.45 billion benefit in natural gas and electricity relief to retail utility customers in their state.