Phillips Petroleum Co., which holds down fifth place on the list of oil and gas companies worldwide, said its second quarter profits were up more than expected, jumping 37% on crude oil, natural gas and gasoline commodity pricing. Phillips, in the process of acquiring Tosco Corp., said income excluding special items was up to $601 million, or $2.33 a share, compared with $439 million, or $1.72 a share for the second quarter of 2000. However, revenues were lower, falling to $5 billion from $5.4 billion a year ago.
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Transportation Notes
Pacific Gas & Electric kept a Stage 3 high-inventory OFO declared for Saturday in place through Sunday, cutting the imbalance tolerance from 1% to zero. No OFO was in effect Monday or today.
Transportation Notes
El Paso declared an Unauthorized Overpull Penalty situation Sunday and kept it in place through Monday.
Interstates Not Welcome in SoCal Territory
California’s anti-bypass policy would remain firmly in place on Southern California Gas’ system under a peaking service proposed by SoCal that was approved last week by a California Public Utilities Commission (CPUC) judge (see NGI, June 4), according to the sponsor of a prospective pipeline.
Interstates Not Welcome in SoCal Territory
California’s anti-bypass policy would remain firmly in place on Southern California Gas’ system under a peaking service proposed by SoCal that was approved last week by a California Public Utilities Commission (CPUC) judge (see Daily GPI, June 4), according to the sponsor of a prospective pipeline.
Bush Administration Energy Plan Taking Focus
In a place where he could put his point across no more clearly — a room full of Associated Press journalists — Vice President Dick Cheney last Monday used a Canadian pulpit to begin the official push for advancing the Bush Administration’s official energy policy. Cheney noted that without a solid energy plan, the entire country faces future energy shortages similar to California’s current crisis.
Conservation Takes a Back Seat, Cheney Says
In a place where he could put his point across no more clearly — a room full of Associated Press journalists — Vice President Dick Cheney on Monday used a Canadian pulpit to begin the official push for advancing the Bush Administration’s official energy policy. Cheney noted that without a solid energy plan, the entire country faces future energy shortages similar to California’s current crisis.
Alliant to Add More Generation in Wisconsin
As part of plan to ensure Wisconsin has enough generation in place to avoid a California-like power crisis in the years ahead, Alliant Energy, parent of Wisconsin Power and Light (WPL), unveiled a proposal to develop up to 800 MW of new electric power generation in Wisconsin over the next 10 years, including 500 MW of coal-fired, 100 MW of gas-fired generation by 2006, and an additional 200 MW of natural gas-fired generation by 2011. Alliant offered the proposal in comments submitted to the Public Service Commission of Wisconsin (PSCW) on a compromise proposal by Wisconsin Electric (WE) and Customers First.
Kern Plans to More than Double its Capacity to California
Illustrating the tremendous demand growth that has nearlycrippled California’s energy market, Kern River Gas Transmissionannounced a plan yesterday to more than double the amount of gas ittransports to the state from Rocky Mountain region supply basins.
Alliant to Add More Generation in Wisconsin
As part of plan to ensure Wisconsin has enough generation inplace to avoid a California-like power crisis in the years ahead,Alliant Energy, parent of Wisconsin Power and Light (WPL), unveileda proposal to develop up to 800 MW of new electric power generationin Wisconsin over the next 10 years, including 500 MW ofcoal-fired, 100 MW of gas-fired generation by 2006, and anadditional 200 MW of natural gas-fired generation by 2011. Alliantoffered the proposal in comments submitted to the Public ServiceCommission of Wisconsin (PSCW) on a compromise proposal byWisconsin Electric (WE) and Customers First.