On the heels of its reorganization plan that will split Marathon Oil Co. from parent USX-Marathon Group (see Daily GPI, Aug. 1), the company announced five new officer positions have been created as part of the reorganization, as well as revised titles and responsibilities. All positions will be based in the Houston headquarters and will take effect Jan. 1, 2002. John T. Mills, senior vice president of finance and administration, has been named CFO. Reporting to Mills will be three new vice presidents, including Albert G. Adkins, currently USX comptroller, who will be vice president, accounting and controller. James F. Meara, currently controller for Marathon, will become vice president of taxes and Paul C. Reinbolt, currently US Steel comptroller, will become vice president, finance and treasurer. Also Jerry Howard, currently vice president of taxes for USX, has been named senior vice president of corporate affairs. The corporate affairs division will be in charge of information technology; health, environment and safety; public affairs; state government affairs; and the Washington, DC-based federal government affairs. Kenneth L. Matheny, currently investor relations for USX, has been named vice president, investor relations for Marathon, and William F. Schwind Jr., now general counsel and secretary, will assume the vice president, general counsel and secretary. Mills, Howard, Matheny and Schwind will report to Marathon president Clarence P. Cazalot Jr., who assumes the Marathon CEO position in January.
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CA Lawmakers Split on What to Do with Edison Deal
This week is crunch time for the California legislature and the fate of Southern California Edison Co. as it sits on the edge of being dragged into bankruptcy. Facing a summer recess beginning this Friday, state lawmakers were exploring alternatives to the April 9 deal the governor and Edison struck that involves the sale of the utility’s transmission assets to the state.
CA Lawmakers Split on What to Do with Edison Deal
This week is crunch time for the California legislature and the fate of Southern California Edison Co. as it sits on the edge of being dragged into bankruptcy. Facing a summer recess starting this Friday, state lawmakers were exploring alternatives to the April 9 deal between the governor and Edison that calls for the sale of the utility’s transmission assets to the state.
Re-Cap of CA Capacity Release Deals No Silver Bullet
Not surprisingly, the energy industry last week was almost evenly split over the issue of whether FERC should re-impose price caps on short-term capacity-release transportation to the California border, with California regulators, utilities, industrial customers and producers in favor of the action, while interstate gas pipelines, power marketers and independent generators serving the state, and local distribution companies (LDCs) want to stick with the status quo.
House GOP Blocks Western Price Cap Initiative
The House Appropriations Committee, in a vote that split closely along party lines, last week rejected an amendment forwarded by Rep. Nancy Pelosi (D-CA) that would have instituted cost-of-service rates for electricity sold at wholesale in the western region.
Re-Cap of CA Release Deals No Silver Bullet
Not surprisingly, the energy industry is almost evenly split over the issue of whether FERC should re-impose price caps on short-term capacity-release transactions to the California border, with California regulators, utilities, industrial customers and producers in favor of the action, while interstate gas pipelines, power marketers and independent generators serving the state, and local distribution companies (LDCs) want to stick with the status quo.
FERC Split Over Market Power Review Adequacy
Divisions emerged last Wednesday at the Federal Energy Regulatory Commission over whether tools used by the Commission in analyzing market power issues are antiquated and in need of an overhaul or are sufficient. Commissioner William Massey believes FERC should initiate a generic inquiry into improving those standards, while Chairman Curt Hebert and Commissioner Linda Breathitt see the regulatory agency’s current approach as more than adequate to meet market power issues.
FERC Split Over Market Power Review Adequacy
Divisions emerged yesterday at the Federal Energy Regulatory Commission over whether tools used by the Commission in analyzing market power issues are antiquated and in need of an overhaul or are sufficient. Commissioner William Massey believes FERC should initiate a generic inquiry into improving those standards, while Chairman Curt Hebert and Commissioner Linda Breathitt see the regulatory agency’s current approach as more than adequate to meet market power issues.
El Paso Capacity Split Among 30 Suppliers
Affiliates of El Paso Merchant Energy, Enron, Duke Energy andPacific Gas & Electric picked up the largest shares of the 1.2Bcf/d of available space on El Paso Natural Gas lines to SouthernCalifornia points in the latest capacity auction.
El Paso Capacity Split
Affiliates of El Paso Energy, Enron, Duke Energy and Pacific Gas& Electric appear to have picked up the largest shares of the1.2 Bcf/d of available space on El Paso Natural Gas lines toSouthern California points in the latest capacity auction.
