The International Brotherhood of Teamsters Local 854 Fund has initiated a class action lawsuit against Williams Companies Inc. and its spun-off communications company, as well as certain key officers and directors, in federal court in Oklahoma for providing false and misleading financial statements and press releases to investors.
Tag / International
SubscribeInternational
Articles from International
Environmentalists Turn Their Sights to LNG Terminals
In the wake of Sept. 11, 2001 and the much higher profile for international terrorism, environmentalists and elected officials are taking a closer look at the resurgence of interest in operating liquefied natural gas (LNG) terminals in the United States, with new concerns about the federal government being poised to okay the re-opening of several East Coast LNG terminals.
Environmentalists Turn Their Sights to LNG Terminals
In the wake of Sept. 11, 2001 and the much higher profile for international terrorism, environmentalists and elected officials are taking a closer look at the resurgence of interest in operating liquefied natural gas (LNG) terminals in the United States, with new concerns about the federal government being poised to okay the re-opening of several East Coast LNG terminals.
Bush Says He Hasn’t Talked with Enron, Says Concerned for Ex-Employees
In a press conference originally set up to update the public about international affairs, President Bush said Friday that he had not had any contact with Enron Corp. officials since the bankruptcy filing, but said he was concerned about the city of Houston and the ex-Enron employees who had lost their “life savings” when the company declared bankruptcy.
Quebec Seeks Share of Nova Scotia Gas
An international contest has developed over access to natural gas supplies from offshore Nova Scotia, with Canadian distributors claiming they are being shut out by an American agenda.
Quebec Seeks Share of Nova Scotia Gas
An international contest has developed over access to natural gas supplies from offshore Nova Scotia, with Canadian distributors claiming they are being shut out by an American agenda.
Industry Brief
Greka Energy Corp., an international vertically integrated oil and gas producer, has completed a Miocene test of its Haspel & Davis #1 well in the Potash Field in Plaquemines Parish, LA to a total depth of 10,604 feet. The well, which was directionally drilled underneath a large salt overhang in inland waters, is expected to have initial production rates of 3 MMcf/d and 350 bbl/d by early September. Greka said the well has the potential to add up to $6.5 million in annual revenue within its Americas division; the company reported $8.5 million in worldwide revenue for the first six months of 2001. More than 360 feet of productive pay zones were encountered, of which almost 160 feet is expected to be gas and 200 feet to be oil.
Anadarko Buys Canada’s Gulfstream Resources
In a cash deal, Anadarko Petroleum Corp. is acquiring Canadian-based Gulfstream Resources Canada Ltd., an international oil and gas company whose assets are centered in Qatar and Oman. Anadarko will pay C$2.65 a share for the company, making it work about US$137 million, and will add an estimated 70 MMboe of proved reserves and 4,700 b/d of production to its portfolio.
IntercontinentalExchange Merger with IPE Nearly Iced
U.S.-based IntercontinentalExchange’s (ICE) takeover of Europe’s International Petroleum Exchange is basically a done deal, with approval of 89.6% of the shares. As of June 15, ICE’s financial adviser, Goldman Sachs, had received 10.25 million shares of acceptance, and with 90% or more of IPE shares in hand, ICE may exercise its right to acquire the rest of the outstanding shares.
DTE Subsidiary Wants ‘Free Riders’ Booted
International Transmission Co. (ITC), a wholly-owned subsidiary of DTE Energy, has asked the Federal Energy Regulatory Commission to require that transmission “free riders” pay for the costs of using ITC’s transmission wires. ITC and its Michigan customers currently pay an estimated $15 million per year to cover the cost of uncompensated uses if its transmission system.