Longer

No longer following the screen (which fell about a nickel), cash prices managed to forge their own path higher Tuesday. A great majority of gains were in the teens, but several Northeast citygates rose by 20 cents or more, and Florida citygates soared more than half a dollar into the $4.20s. At the opposite end of the price spectrum, Rockies points flattened out as more supply came on line in response to recent price hikes.

BP CEO Sir John Browne said in a speech last week in London that his company no longer would make political contributions anywhere in the world. He said BP’s policy shift reflects a desire to help preserve, or perhaps restore, the “legitimacy” of the political process and of governments around the world, but particularly in the United States, which is where most of BP’s political donations have been directed.

BP’s CEO Sir John Browne said in a speech Wednesday in London that his company no longer would make political contributions anywhere in the world. He said BP’s policy shift reflects a desire to help preserve, or perhaps restore, the “legitimacy” of the political process and of governments around the world, but particularly in the United States, which is where most of BP’s political donations have been directed.

Even with futures no longer pointing out an upward path, the cash market continued to forge ahead Wednesday with new gains that remained mostly in double digits. As on the day before, a large majority of increases were between about a dime and 15 cents.

It took longer to accomplish than previously expected (see Daily GPI, Jan. 16), but Westcoast was able to restore processing capacity at its McMahon Gas Plant near Fort St. John, BC, to its normal 630 MMcf/d around mid-afternoon Wednesday. The capacity had been cut by about a third Tuesday due to excessive foaming of a monoethanol amine (MEA) treatment solution causing a shutdown of processing train #3.

Trunkline warned Friday evening that based on system operations and continuing weather conditions, it no longer could absorb excess receipts upstream of Centerville in the East Louisiana pool. It issued a critical system warning for the pool that remains in effect until further notice. If the excess receipts continue, an OFO with 2% tolerance and $25/Dth penalties may become necessary, Trunkline said.

Given that the high natural gas prices “no longer exist” that prompted FERC to require suppliers to report sales made to the California market, a group of major producers and marketers has asked the Commission to terminate the requirement when it comes up for renewal in January.

Given that the high natural gas prices “no longer exist” that prompted FERC to require suppliers to report their sales to the California market, a group of major producers and marketers has asked the Commission to terminate the requirement when its comes up for renewal in January.

El Paso said the Pecos River Station’s #2 turbine will remain down longer than planned due to damage discovered during an ongoing overhaul. Capacity through Pecos River will be cut by 60 MMcf/d through Nov. 20.