Offer

Natural gas-fueled vehicles offer the strongest foreign oil-displacement message of all alternative fuels, and while there are only about 120,000 of them on U.S. roads now, they’re a growing force for energy independence and cleaner air, according to Richard Kolodziej, president of Natural Gas Vehicles for America (NGVAmerica).

FERC on Wednesday approved, with two modifications, TransCanada Alaska Co. LLC’s open season plan for the proposed Alaska Pipeline Project.

FERC on Wednesday approved, with two modifications, TransCanada Alaska Co. LLC’s open season plan for the proposed Alaska Pipeline Project.

Anadarko Petroleum Corp. has agreed to buy the majority of bankrupt San Antonio-based TXCO Resources Inc. Anadarko’s bid of as much as $310 million beat an earlier offer from Newfield Exploration Co.

Anadarko Petroleum Corp. has agreed to buy the majority of bankrupt San Antonio-based TXCO Resources Inc. Anadarko’s bid of as much as $310 million beat an earlier offer from Newfield Exploration Co.

Petroleos Mexicanos (Pemex) in July plans to offer private companies the opportunity to bid for rights to develop three small natural gas exploration blocks that could produce up to 100 MMcf/d, the company’s exploration and production (E&P) chief said Friday.

Shareholders of Petro-Canada and Suncor Energy Inc., both based in Calgary, have overwhelmingly approved Suncor’s C$22.2 billion (US$20.2 billion) merger offer, which was made in March (see Daily GPI, March 24). The combined company, which would carry the Suncor brand, would create Canada’s largest oil and gas producer. Petro-Canada shareholders voted 96% in favor of the transaction; 98% of Suncor’s shareholders were in favor. Before it is completed, the transaction requires approval by Canada’s Competition Bureau and an Alberta court. The combination of the two companies is expected to save C$1 billion a year in capital costs and C$300 million annually in operating expenses. Closing is expected by the end of September.

The new CEO of Quantum Resources Management LLC said Monday the coming months likely will offer “tremendous” opportunities for energy sector investment.

The Federal Energy Regulatory Commission approved a joint offer of settlement filed by its enforcement staff and Energy Trans Partners’ Oasis Pipeline and affiliates, which essentially closes the enforcement case against the companies without levying any financial penalties. “The Commission finds that the stipulation and consent agreement is fair, reasonable and in the public interest and [it] is hereby approved,” the order said [IN06-3]. Commissioner Joseph Kelliher, who led the charge in bringing the enforcement action against Oasis Pipeline and affiliates in July 2007, did not participate in the decision. The joint settlement spells out the conditions under which Oasis will provide transportation services to its customers, upgrade its electronic bulletin board, record telephone conversations of its dispatchers for four years, and enhance and maintain its compliance monitoring program. The approval of the settlement comes three months after presiding Administrative Law Judge Bruce L. Birchman in a partial decision dismissed the meat of the FERC enforcement case against Oasis Pipeline — that it discriminated against nonaffiliated shippers in favor of affiliated shippers (see Daily GPI, Nov. 20).