Intends

The New York Mercantile Exchange Inc. (Nymex) announced late last week that it intends to expand the open outcry trading hours for its energy futures and options contracts, a move that some say will help the earnings of pit traders who have lost volumes as well as profit to the electronic trading boom.

The New York Mercantile Exchange Inc. (Nymex) announced late Thursday that it intends to expand the open outcry trading hours for its energy futures and options contracts, a move that some say will help the earnings of pit traders who have lost volumes as well as profit to the electronic trading boom.

Offshore drilling foe Sen. Bill Nelson (D-FL) said Friday he intends to place a hold on the nomination of two-term Gov. Dirk Kempthorne to be the next secretary of Interior, citing concerns over the nominee’s friendly view of the oil and natural gas industry.

With an emphasis on its electric utility operations, Pacific Gas and Electric Co. notified the California Public Utilities Commission (CPUC) Monday that it intends to file for a $654 million rate increase later this year to be effective in 2007.

El Paso Corp. said last week that it intends to get out of all its noncore businesses and pay down debt quicker in hopes of hitting net income of up to $750 million in 2006. The announcement Thursday followed news earlier in the week that the company had a net loss of more than $1 billion last year.

Gazprom Deputy CEO Alexander Ryazanov said last week that the Russian gas monopoly intends to form a final consortium by mid year to produce and liquefy natural gas from the 113 Tcf Shtokman field in the Barents Sea for export to U.S. markets.

Gazprom Deputy CEO Alexander Ryazanov said over the weekend that the Russian gas monopoly intends to form a final consortium by mid year to produce and liquefy natural gas from the 113 Tcf Shtokman field in the Barents Sea for export to U.S. markets.

As demand for natural gas and power grows, TransCanada Corp. intends to connect new sources of supply to meet growing demand, and will hold to its commitment to play a leading role in developing the proposed Alaska Highway Pipeline and Mackenzie Gas Pipeline Project, the CEO said last week.

In an indication of how El Paso Corp. intends to turn around its troubled and heretofore U.S.-centered oil and gas production business, subsidiary El Paso Production Co. announced late Monday that it will purchase the rest of a joint oil and natural gas operation that it operates in Brazil with Unocal Corp.