Funding

Transwestern Pipeline finances its maintenance with the monies it receives from shippers whose shipments are curtailed due to planned maintenance activities along its 2,600-mile system, a Fort Worth, TX-based gas marketer charges.

With new tax laws in its favor, Kinder Morgan Inc. (KMI) announced Wednesday it will move away from an earnings per share policy and focus instead on shareholder dividends. As part of its new policy, KMI plans to increase its quarterly dividend to 40 cents a share, or $1.60 annually, up 167% from its current 15 cents (60 cents a year).

With new tax laws in its favor, Kinder Morgan Inc. (KMI) announced Wednesday it will move away from an earnings per share policy and focus instead on shareholder dividends. As part of its new policy, KMI plans to increase its quarterly dividend to 40 cents a share, or $1.60 annually, up 167% from its current 15 cents (60 cents a year).

Exxon Mobil Corp., which owns a 25% stake in Thunder Horse — the largest oil and gas discovery to date in the deepwater Gulf of Mexico — this week approved an undisclosed amount of money to fund its share of development costs. Together with 75% stakeholder BP, the Houston-based major will begin construction of what will become the world’s largest semi-submersible floating production, drilling and quarters (PDQ) unit, with a total operating displacement of more than 140,000 tons. The project is scheduled for initial oil and natural gas production in 2005.

The Securities and Exchange Commission’s (SEC) ability to closely regulate the securities and financial markets has become “increasingly strained” due to its restricted funding, limited staff and high turnover of senior staff, according to a report released by General Accounting Office (GAO) last week.

The Securities and Exchange Commission’s (SEC) ability to closely regulate the securities and financial markets has become “increasingly strained” due to its restricted funding, limited staff and high turnover of senior staff, according to a just-released report of the General Accounting Office (GAO).

The prospect of a 67.5% increase in gas demand in the state of New York over the next five years has the New York State Energy Research and Development Authority (NYSERDA) and the New York Independent System Operator (NYISO) just a little concerned about a potential overload of the gas transportation system in the state.

A policy change directed at construction funding on newly formed, project-financed pipelines, which showed up for the first time in FERC’s certificate order for Gulfstream Natural Gas System, “constitutes flawed policy and lacks reasoned decision-making,” the pipeline said (see NGI, Feb. 26).

A policy change directed at construction funding on newlyformed, project-financed pipelines, which showed up for the firsttime in FERC’s certificate order for Gulfstream Natural Gas System,”constitutes flawed policy and lacks reasoned decision-making,” thepipeline said (see Daily GPI, Feb. 22).