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A software glitch led Oneok to reduce its 2005 net income by $8.1 million (8 cents/share) and its energy services operating income by $13.2 million and raise its 1Q2006 earnings by similar amounts.

The Department of Energy has concluded that creating a natural gas reserve similar to what has been done with petroleum would be “problematic” because of the substantial number of privately owned gas storage fields already in operation throughout the country, Energy Secretary Samuel Bodman said during a media breakfast presentation hosted by Energy Daily.

Mirroring a similar decrease a month earlier, Pacific Gas and Electric Co. Wednesday again said it expected another big decrease in natural gas utility bills this month, compared to last month, with bills expected to be down 36.8% for residential customers. PG&E’s utility said the average residential bill for March is expected to be $68.05, compared with $107.60 last month, although the cost of natural gas remains 24% higher than it was in March 2005.

El Paso Natural Gas has put in service a 502 MMcf/d expansion that provides a needed crossover between its North System and South System mainlines, similar to the already existing Havasu Crossover.

Creating a Strategic Natural Gas Reserve similar to the Strategic Petroleum Reserve would not be a good idea in light of the limited amount of domestic gas supply currently available, a group of industrial energy consumers told the Bush administration Thursday.

Although she was expected to follow a path similar to that of her far more terrible predecessor, Ivan, Tropical Storm Arlene on Friday was expected to remain weak, causing little or no lasting impact on the natural gas market or Gulf exploration and production infrastructure.

Although she was expected to follow a path similar to that of her far more terrible predecessor, Ivan, Tropical Storm Arlene on Friday was expected to remain weak, causing little or no lasting impact on the natural gas market or Gulf exploration and production infrastructure.

With a projected path eerily similar to last season’s devastating Hurricane Ivan, Tropical Storm Arlene on Thursday, although still far weaker than Ivan with only 40 mph winds, already was prompting producers to exit the eastern and central Gulf of Mexico in rapid fashion.

The possibility that LNG exporting countries might someday attempt to operate a cartel similar to the Organization of Petroleum Exporting Countries (OPEC) in an attempt to control world gas prices and production appears to be a real threat to officials at the American Public Gas Association (APGA).