Nearing

Florida Gas Transmission had an Overage Alert Day nearing the end of its third week in existence Monday, keeping the tolerance for negative daily imbalances at 20%.

The Senate voted cloture Thursday, nearing the finish of its weeks-long debate on broad legislation overhauling the nation’s financial regulatory system. It was expected to hold a final vote on the bill itself as early as Thursday night or Friday.

Northern Natural Gas, operator of the Matagorda Offshore Pipeline System (MOPS), said Friday it was nearing the return of service on MOPS dehydration equipment at the onshore Tivoli, TX, facility (see Daily GPI, Oct. 22) and expected it to be fully operational for Monday’s gas day.

The nearly two-month wait for the Independence Hub natural gas deepwater production platform in the Gulf of Mexico to come back on-line may be nearing an end as Enterprise Products Partners LP announced last Tuesday it had completed repairs on the associated Independence Trail pipeline.

With crude oil prices exceeding $130 a barrel and natural gas prices nearing $12.50/Mcf, the Government Accountability Office (GAO) now says the federal government could be out as much as $54 billion in revenues — far more than was previously estimated — as a result of the faulty 1998-1999 deepwater leases and the court challenge by Kerr-McGee Oil and Gas, now part of Anadarko Petroleum, if upheld on appeal.

With crude oil prices exceeding $130 a barrel and natural gas prices nearing $12.50/Mcf, the Government Accountability Office (GAO) now says the federal government could be out as much as $54 billion in revenues — far more than was previously estimated — as a result of the faulty 1998-1999 deepwater leases and the court challenge by Kerr-McGee Oil and Gas, now part of Anadarko Petroleum, if upheld on appeal.

The nearly two-month wait for the Independence Hub natural gas deepwater production platform in the Gulf of Mexico to come back on-line may be nearing an end as Enterprise Products Partners LP announced Tuesday it has completed repairs on the associated Independence Trail pipeline.

As the White House threatens to veto the multi-billion-dollar farm bill, the House-Senate conference committee is nearing approval of the legislation that includes a provision to close the so-called “Enron Loophole,” which has for years exempted large electronic trading platforms from the oversight of the Commodity Futures Trading Commission (CFTC).

With crude oil prices above $105 a barrel and natural gas prices nearing $10/Mcf, a group of chemical manufacturers Friday called on Congress to look again at lifting the moratoria on drilling off the East and West Coasts.