Spill

The oil spill in the Gulf of Mexico has “complicated” the passage of an energy bill because one of its “central features” was to be offshore access, Anadarko Petroleum Corp. CEO Jim Hackett said Tuesday.

Taking into account a charge related to new accounting changes, Duke Energy reported first quarter net income of $225 million (25 cents per share), compared to $382 million (48 cents per share) in first quarter 2002. Results for first quarter 2003 included a $162 million (18 cents per share) after-tax charge for the cumulative effect of previously announced accounting changes.

Taking into account a charge related to new accounting changes, Duke Energy reported first quarter net income of $225 million (25 cents per share), compared to $382 million (48 cents per share) in first quarter 2002. Results for first quarter 2003 included a $162 million (18 cents per share) after-tax charge for the cumulative effect of previously announced accounting changes.

The Department of Transportation (DOT) last week announced it was seeking a fine of $2.52 million against El Paso Natural Gas for several “probable violations” that potentially contributed to the fatal explosion on its pipeline system in New Mexico last August, which resulted in 12 deaths. It was said to be the “largest civil penalty” ever sought against a pipeline operator for federal safety violations.

Democratic and Republican members of the House Energy and Commerce Committee Friday said that ongoing talks related to the mark-up of emergency legislation designed to provide relief to the troubled California wholesale energy markets would carry over into next week’s Congressional recess.

Plans by the House Energy and Commerce Committee to mark up emergency legislation designed to provide relief to the troubled California wholesale energy markets were delayed last week after last-minute negotiations broke down between Democrats and Republicans over the measure. Members from both sides of the aisle on Friday said that they would continue to try and hammer out a bipartisan solution over the Congressional recess that starts this week.