Pacific Gas and Electric Co. (PG&E) last Tuesday asked California regulators for more time to produce full documentation on welds and flaws uncovered during the past 55 years on 1,805 miles of its natural gas transmission pipeline system. A regulatory commission judge is scheduled to hold a prehearing conference on the utility’s request Monday (June 6).
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PG&E Seeks Extension in State Pipeline Investigation
Pacific Gas and Electric Co. (PG&E) Tuesday asked California regulators for more time to produce full documentation on welds and flaws uncovered during the past 55 years on 1,805 miles of its natural gas transmission pipeline system. A regulatory commission judge is scheduled to hold a prehearing conference Monday on the utility’s latest request for more time.
ICE’s Sprecher Delivers Guts & Glory Speech to CBOT Members
IntercontinentalExchange (ICE) CEO Jeffrey Sprecher took the wooing of the Chicago Board of Trade (CBOT) directly to CBOT’s members Thursday and uncovered some favorable support.
ICE’s Sprecher Delivers Guts & Glory Speech to CBOT Members
IntercontinentalExchange (ICE) CEO Jeffrey Sprecher took the wooing of the Chicago Board of Trade (CBOT) directly to CBOT’s members Thursday and uncovered some favorable support. One week after it appeared that all hope might have been lost in its bid to acquire CBOT, ICE also sweetened the deal by reaching an agreement with the Chicago Board Options Exchange (CBOE) that could help settle a long-running legal dispute between the options trading exchange and cross-town rival CBOT.
House Panel Cites Interior ‘Cover-Up’ in Missing Lease Price Caps
A House Government Reform subcommittee investigating the absence of price thresholds in deepwater oil and natural gas leases negotiated in 1998 and 1999 said it has uncovered a “trail of irresponsibility and gross mismanagement” by the Department of Interior that led to the omissions, and an apparent “cover-up” that served to only worsen the problem.
BJ Services Delays Annual Report After Uncovering Bribery Scandal in Asia Unit
A bribery and financial misappropriation scandal uncovered by BJ Services Co. in its Asia Pacific region division has forced it to delay filing its fiscal year 2004 annual report. The oilfield services company has requested a 15-day filing extension from Securities and Exchange Commission that will extend the filing deadline to Dec. 29.
Domenici Solicits Cures for Gas Crisis; Dingell Seeks FERC, CFTC Review of Hedge Funds
Senate Energy and Natural Resources Chairman Pete Domenici (R-NM) is proposing to put solutions “to the looming crisis in natural gas supply and demand” on the front burner of the new Congress, calling for legislative proposals to be filed with the committee by Jan. 7. The senator’s announcement followed on a number of complaints last week over the rising price and volatility of natural gas.
Domenici Solicits Cures for Gas Crisis; Dingell Seeks FERC, CFTC Review of Hedge Funds
Senate Energy and Natural Resources Chairman Pete Domenici (R-NM) is proposing to put solutions “to the looming crisis in natural gas supply and demand” on the front burner of the new Congress, calling for legislative proposals to be filed with the committee by Jan. 7. The senator’s announcement followed on a number of complaints last week over the rising price and volatility of natural gas.
Alleged Fraud Uncovered at CA Emission Credits Exchange
Once hailed as a national model for helping industry voluntarily lower air emissions, the Southern California-based RECLAIM emission credits program crashed last Wednesday with the arrest on criminal fraud charges of one of its founders. A number of major western energy companies are listed as victims of what authorities call a basic $80 million Ponzi scheme. One of the victims, San Jose, CA-based Calpine Corp., told NGI on Thursday that it has settled with the emissions credit exchange for an undisclosed amount.
More Dynegy Project Alpha Indictments May be Forthcoming
A “mountain of evidence” uncovered by the U.S. Attorney’s Office in Houston may lead to more indictments from Project Alpha, a financial scheme that so far has netted more than $3 million in fines for Dynegy Inc. and two guilty pleas by former executives.