Outlined

At a strategy review in London Wednesday, Shell outlined its plans for the coming years, announcing it would extend its liquefied natural gas (LNG) leadership position and divest of $10-12 billion in assets between now and 2006. To succeed in reestablishing its leading position, the number three oil major plans to spend $45 billion through 2006, nearly all of it on upstream activities.

Sen. Jeff Bingaman (D-NM) in a letter to the White House last Wednesday outlined “13 specific steps” that President Bush could take using his existing authority to cut high-flying prices for natural gas and gasoline.

Sen. Jeff Bingaman (D-NM) in a letter to the White House Wednesday outlined “13 specific steps” that President Bush could take using his existing authority to cut high-flying prices for natural gas and gasoline.

Sticking to its outlined schedule, Florida Gas Transmission Co. (FGT) has placed in service the second stage of its four-stage Phase V Expansion project. The second stage of Phase V added approximately 64 miles of underground natural gas pipeline, increased compression by approximately 103,000 hp at new or existing compressor stations, and provided 298 MMcf/d of additional transportation capacity.

FERC Chief Administrative Law Judge Curtis L. Wagner’s proposal to make the pricing formula outlined in the Commission’s June mitigation order retroactive to Oct. 2, 2000 is unfair and would add to the uncertainty already seen in California’s power markets, argue Enron Power Marketing Inc. and Enron Energy Services. If Wagner follows through on this, the ALJ also should urge the Federal Energy Regulatory Commission to rule that all rates charged by generators prior to the Oct. 2 cutoff are just and reasonable and are not subject to refund, the Enron affiliates said in preliminary comments made at the Commission.

Forecasting an excellent 2001, Houston-based Ocean Energy outlined its latest forecast Thursday, and announced it has completed the acquisition of Texoil Inc., which is expected to greatly impact 2001 operations.

Forecasting an excellent 2001, Houston-based Ocean Energyoutlined its latest forecast Thursday, and announced it hascompleted the acquisition of Texoil Inc., which is expected togreatly impact 2001 operations.

San Diego-based Sempra Energy last week outlined its plans toconsolidate, but not legally merge, operations of its distributionutilities, which combined form the largest utility in terms ofmeters (6.1 million) in the nation. Southern California Gas Co. andSan Diego Gas and Electric Co. will continue to exist, according toSempra spokesman Doug Kline.

Clarifying its intentions, San Diego-based Sempra Energy yesterdayoutlined its plans to consolidate, but not legally merge, operationsof its distribution utilities, which combined form the largest utilityin terms of meters (6.1 million) in the nation. Southern CaliforniaGas Co. and San Diego Gas and Electric Co. will continue to exist,according to Sempra’s spokesperson Doug Kline. (See Daily GPI, March 21)