Stalled

The Bureau of Land Management (BLM) again is stalled in its efforts to allow drilling in parts of southeastern Utah after a federal judge issued a temporary restraining order (TRO) to prevent completing a recent lease sale.

With Senate action on its Stop Excessive Speculation bill (S3268) apparently stalled, attention this week turns to a House version of legislation to extend the Commodity Futures Trading Commission’s (CFTC) role in monitoring futures markets, which may make it to the floor before the Congress leaves for its August recess. After two days of rhetoric, the Senate Friday failed to muster the votes necessary to close debate.

With Senate action on its Stop Excessive Speculation bill (S3268) apparently stalled, attention this week turns to a House version of legislation to extend the Commodity Futures Trading Commission’s (CFTC) role in monitoring futures markets, which may make it to the House floor before the Congress leaves for its August recess. After two days of rhetoric, the Senate Friday failed to muster the votes necessary to close debate.

With consideration of its project stalled at the FERC for lack of requested data, the sponsor of the Quoddy Bay LNG Import Project said last week it expects the review to resume after the company submits the requested information “in the near future.”

With consideration of its project stalled at the FERC for lack of requested data, the sponsor of the Quoddy Bay LNG Import Project said Monday it expects the review to resume after the company submits the requested information “in the near future.”

Five months after sale talks stalled (see NGI, Sept. 3, 2007), New York Mercantile Exchange (Nymex) parent Nymex Holdings reported early last week that it is in negotiations to be acquired by the CME Group, owner of the Chicago Mercantile Exchange, in what would be an $11 billion cash and stock deal. Also last week, Nymex reported record 4Q2007 and full-year 2007 revenues.

Five months after sale or merger talks stalled (see Daily GPI, Aug. 23, 2007), New York Mercantile Exchange parent Nymex Holdings reported Monday morning that it is in talks to be acquired by the CME Group, owner of the Chicago Mercantile Exchange, in what would be an $11 billion cash and stock deal.

Hope that natural gas will flow out of the Canadian Arctic was revived among boosters of the stalled northern pipeline project after four producers took out new exploration rights in the Beaufort Sea. Imperial Oil, ExxonMobil Canada, ConocoPhillips Canada and Chevron Canada scooped up 1,600 square miles (4,172 square kilometers)of drilling rights in a region offshore of the Mackenzie Delta long known to be rich in gas.

Hope that natural gas will flow out of the Canadian Arctic was revived among boosters of the stalled northern pipeline project after four producers took out new exploration rights in the Beaufort Sea (see Daily GPI, July 20).