High U.S. commodity prices helped lift BP Plc to a record quarterly profit. Tuesday, the company announced its first quarter adjusted replacement cost net profit before goodwill of $4.126 billion, up 52% from a year ago. However, BP, ranked third in the world, did not exceed its earnings forecast of $3.56-$4.23 billion — a feat accomplished by leaders Exxon Mobil and Royal Dutch/Shell Group.
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BP Scores Record Profits in Q1
High U.S. commodity prices helped lift BP Plc to a record quarterly profit. Tuesday, The company announced its first quarter adjusted replacement cost net profit before goodwill of $4.126 billion, up 52% from a year ago. However, BP, ranked third in the world, did not exceed its earnings forecast of $3.56-$4.23 billion — a feat accomplished by leaders Exxon Mobil and Royal Dutch/Shell Group.
Enron Scores With Two More Management Deals
Enron Energy Services continues its quest to shore up energymanagement agreements with as many customers as it can. On theheels of an announcement Tuesday that it had signed a 10-yearagreement with Prudential Insurance of America, the Enron Corp.subsidiary announced Wednesday that it had pocketed a $1 billion,10-year energy agreement with the U.S. facilities of QuebecorWorld, the world’s largest commercial printer. The agreementexpands Enron’s original $250 million five-year contract with WorldColor Press, signed in 1998. World Color Press was purchased byQuebecor Printing Inc. last August.
Enron Scores a $1 Billion Management Deal
Enron Energy Services continues its quest to shore up energymanagement agreements with as many customers as it can. On theheels of Tuesday’s announcement that it had signed a 10-yearagreement with Prudential Insurance of America, the Enron Corp.subsidiary announced yesterday that it had pocketed a $1 billion,10-year energy agreement with the U.S. facilities of QuebecorWorld, the world’s largest commercial printer. The agreementexpands Enron’s original $250 million five-year contract with WorldColor Press, signed in 1998. World Color Press was purchased byQuebecor Printing Inc. last August.
CMP Scores Supply Contract in Maine
CMP Natural Gas (CMPNG) got less than it hoped for out of a recent Maine Public Utilities Commission (MPUC) decision which allowed the LDC to serve both a 540 MW power plant in Westbrook, ME, and an electric municipality in Gorham ME, but not general customers in Westbrook. The decision was passed down earlier this month. CMPNG is a joint venture between Energy East and Central Maine Power Group.
CMP Scores Supply Contract in Maine
CMP Natural Gas (CMPNG) got less than it hoped for out of a recent Maine Public Utilities Commission (MPUC) decision which allowed the LDC to serve both a 540 MW power plant in Westbrook, ME and an electric municipality in Gorham ME, but not general customers in Westbrook. The decision was passed down earlier this month. CMPNG is a joint venture between Energy East and Central Maine Power Group.
Aquila Scores a $264 M Supply Deal
Utilicorp United’s Aquila Energy signed the Nebraska-basedAmerican Public Energy Agency (APEA) to a 12-year, $264 million gassupply contract, the company said last week. The deal isretroactive to Dec. 1. Aquila said it is the single largestlong-term gas contract to be financed through the issuance oflong-term taxable revenue bonds. Under the terms of the contract,the APEA purchased 142 Bcf of supply at a price based on a NorthernNatural-Demarc index.
Aquila Scores a $264 Million Supply Deal
Utilicorp United’s Aquila Energy signed the Nebraska-basedAmerican Public Energy Agency (APEA) to a 12-year, $264 million gassupply contract, the company said yesterday. The deal isretroactive to Dec. 1 and based on a Northern Natural-Demarc index.Aquila said it is the single largest long-term gas contract to befinanced through the issuance of long-term taxable revenue bonds.Under the terms of the contract, the APEA purchased 142 Bcf ofsupply.
PG&E Gas Pursues Pacific Northwest, TX Power Markets
While scores of pipelines are jockeying to supply gas to newpower generators in the Northeast market, PG&E Gas Transmission— the 7th largest pipeline in the nation — is turning itsattention to the rapidly growing generation markets in the PacificNorthwest and Texas, where the competition from rival pipelines ismuch less fierce.
CMS Scores Deal to Manage Bank One’s Energy
CMS Marketing, Services and Trading, (CMS-MST) has madesignificant additions to its energy services operations recently,signing a five-year energy management agreement with Chicago-basedBank One Corp. last week and expanding its national presencethrough the purchase of Viron Corp. from York International in lateSeptember.