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In tandem with heavy losses in the nearby crude oil and related products markets, natural gas futures shifted lower Wednesday as traders weighed the impact that fuel switching could have on prices this winter. The latest storage report from the American Gas Association (a 7 Bcf injection) rocked prices first lower and then higher, before the December contract finished the session back in the middle of the its daily trading range, down 4.4% at $2.676. December crude oil futures finished with an 8.6% loss at $19.80, its lowest close on a spot month basis since July 1999.

Coming to completion right on schedule, Houston-based Texas Eastern Products Pipeline Co. LLC, general partner of TEPPCO Partners LP, reported that it has finalized its acquisition of the Jonah Gas Gathering Co. from Green River Pipeline LLC and McMurry Oil Co., both wholly owned subsidiaries of Alberta Energy Co. Ltd. (AEC). TEPPCO said the estimated $360 million deal marks its entry into the natural gas gathering business.

Coming to completion right on schedule, Houston-based Texas Eastern Products Pipeline Co. LLC, general partner of TEPPCO Partners LP, reported that it has finalized its acquisition of the Jonah Gas Gathering Co. from Green River Pipeline LLC and McMurry Oil Co., both wholly owned subsidiaries of Alberta Energy Co. Ltd. (AEC). TEPPCO said the estimated $360 million deal marks its entry into the natural gas gathering business.

The emergence of online exchanges in both energy commodities and other products has enabled energy companies to shift to an environment where suppliers can expand their reach and receive a wider comparison selection when they make business decisions. A report by Energy Info Source, “Online Exchanges in the Energy Industry,” examines an evaluation of the challenges and the drivers impacting energy e-commerce.

In a merger that would create the second largest refiner of petroleum products in the United States behind ExxonMobil Corp., San Antonio-based Valero Energy Corp. and Ultramar Diamond Shamrock Corp. (UDS) announced last week that they have entered into an agreement in which Valero will acquire UDS in a transaction valued at $6 billion.

In a merger that would create the second largest refiner of petroleum products in the United States behind ExxonMobil Corp., San Antonio-based Valero Energy Corp. and Ultramar Diamond Shamrock Corp. (UDS) announced on Monday that they have entered into an agreement in which Valero will acquire UDS in a transaction valued at $6 billion.

If you thought natural gas prices were volatile last summer, you haven’t seen anything yet, according to Raymond James & Associates. During the peak heat of summer 2001, the company forecasts that gas prices will rise above $6/Mcf, and remain above the $5/Mcf mark in the longer term.

If you thought natural gas prices were volatile last summer, you haven’t seen anything yet, according to Raymond James & Associates. During the peak heat of summer 2001, the company forecasts that gas prices will rise above $6/Mcf, and remain above the $5/Mcf mark in the longer term.

TradeSpark said yesterday that it has traded energy productswith a notional value of more than $16 billion since opening forbusiness last October. The electronic marketplace said it tradedmore than 1.72 billion Btu of natural gas instruments, with anotional value of more than $9 billion and 141 million MWh ofelectricity instruments with a notional value of about $6 billion.