London

London-based BP plc’s oil and gas output is expected to grow at least 5% globally through 2008, and the company expects to grow its natural gas sales volumes 3-5% a year, Sir John Browne, CEO, said last week. Browne also noted that because of the expected strong organic growth in the next four years, excess cash will be given to shareholders.

London-based BP plc’s oil and gas output is expected to grow at least 5% globally through 2008, and the company expects to grow its natural gas sales volumes 3-5% a year, the CEO said Monday. Sir John Browne added that because of the expected strong organic growth in the next four years, excess cash will be given to shareholders.

London-based BG Group announced last week that its wholly-owned subsidiaries, BG LNG Services LLC and BG Gas Marketing Ltd., have completed a long-term agreement to acquire all of El Paso Merchant Energy’s capacity in the Elba Island liquefied natural gas (LNG) regasification terminal in Georgia and related LNG purchase and gas sale agreements.

London-based BG Group announced Monday that its wholly-owned subsidiaries, BG LNG Services LLC and BG Gas Marketing Ltd., have completed a long-term agreement to acquire all of El Paso Merchant Energy’s capacity in the Elba Island liquefied natural gas (LNG) regasification terminal in Georgia and related LNG purchase and gas sale agreements.

London-based International Power, which owns more than 4,000 MW of power assets in the U.S., last week disclosed that it is considering mothballing some of its U.S. operational capacity. If the company follows through with such a move, it would follow similar decisions made by numerous other power companies in recent months.

Royal Dutch/Shell Group has an offer on the table to buy Anadarko Petroleum Corp. for $19.5 billion, according to London’s Sunday Times. Both Shell and Anadarko officials could not be reached for comment, but Anadarko apparently hired Credit Suisse First Boston to negotiate with potential buyers over the summer.

Dynegy Inc. has started its effort to unload its communications assets by selling off its European broadband network to an affiliate of London-based Klesch & Company for an undisclosed sum. Klesch is a private equity firm specializing in European restructurings.

London-based BP plc plans to cut about 1,000 jobs from its Lower 48 operations, after announcing last week that its fourth quarter earnings will be below forecasts. Apparently, no more jobs will be eliminated from the extensive Alaska operations, which were cut 20% last year.

Dynegy Inc. has started its effort to unload its communications assets by selling off its European broadband network to an affiliate of London-based Klesch & Company for an undisclosed sum. Klesch is a private equity firm specializing in European restructurings.