Team

A group calling itself the Mirant Shareholder Rights Group released a statement Monday blasting bankrupt Mirant’s management team for excessive executive compensation in light of their “track record of failures.” The group also accused Mirant management of abusing the bankruptcy process by filing “numerous” motions to seal documents related to asset sales, company valuations and potential litigation against its former parent company.

ConocoPhillips’ natural gas marketing management team could probably write a new-and-improved version of how to succeed in the energy merchant business. In the past three years, the integrated producer has steadily grown from regional marketer to North American powerhouse, and now the company is positioning itself to become a major player in liquefied natural gas (LNG), a new market that likely will impact energy trading, a company executive said Wednesday.

Dynegy Inc.’s management team last week attempted to convince investors that it was focused on future performance, but the news was overshadowed by a 76% reduction in 2004 earnings’ estimates and a projected net loss in 2005.

Gaz Metro Ltd., Enbridge Inc. and Gaz de France are planning a C$700 million liquefied natural gas (LNG) import terminal on the south shore of the St. Lawrence River downstream of Quebec City in Quebec. The Rabaska LNG terminal, which would be designed to send out about 500 MMcf/d of regasified LNG, is expected to be in service in late 2008 or early 2009.

Gaz Metro Ltd., Enbridge Inc. and Gaz de France are planning a C$700 million liquefied natural gas (LNG) import terminal on the south shore of the St. Lawrence River downstream of Quebec City in Quebec. The Rabaska LNG terminal, which would be designed to send out about 500 MMcf/d of regasified LNG, is expected to be in service in late 2008 or early 2009.

The Committee of Chief Risk Officers (CCRO), which was formed in 2002 to establish bottom-line standards for energy traders, plans by this summer to establish a best practice financial framework to serve as the foundation for the Standard & Poor’s (S&P) quarterly request for financial data.

The Committee of Chief Risk Officers (CCRO), which was formed in 2002 to establish bottom-line standards for energy traders, plans by this summer to establish a best practice financial framework to serve as the foundation for the Standard & Poor’s (S&P) quarterly request for financial data.

Despite urging by the prosecution team, U.S. District Judge David Hittner in Houston Wednesday rejected a plea agreement for Lea Fastow, the wife of former Enron CFO Andrew Fastow. Lea Fastow withdrew her guilty plea after Hittner, who would not tell her what his sentence would be, insisted that she decide whether to take the sentence or not.

Despite urging by the prosecution team, U.S. District Judge David Hittner in Houston Wednesday rejected a plea agreement for Lea Fastow, the wife of former Enron CFO Andrew Fastow. Lea Fastow withdrew her guilty plea after Hittner, who would not tell her what his sentence would be, insisted that she decide whether to take the sentence or not.