Gas industry
The Columbia Gas System, Inc., and Columbia Gas Transmission Corporation, two companies operating under Chapter 11 of the U.S. Bankruptcy Code since July 31, 1991, have filed a settlement agreement with major producer creditors. This agreement, signed by over 80% of the largest producer creditors, represents more than 80%
Gas industry
Williams Cos. Inc. and TransCanada PipeLines Ltd. (TCPL) have reported strong earnings in the first quarter, with Williams Cos. Inc. netting $1.1 billion (11.55/share) and TCPL reporting net income of US$71 million (31 cents/share). The positive earnings are attributed to the sale of Williams'
Gas industry
The American civil justice system has become a "grand jackpot" that provides excessive windfalls to plaintiffs and their lawyers, according to Sam Gillespie, General Counsel for Mobil Corporation. With jury awards for punitive damages spiraling into the hundreds of millions of dollars, the system is out of balance,
Gas industry
Mobil Corporation's affiliate, Mobil Oil Tulpar Inc., has signed a joint venture agreement and exploration and development contract with the government of Kazakhstan to explore for oil and gas on the four-million-acre Tulpar block in northwestern Kazakhstan. The joint venture, Tulpar Munai Ltd., will be managed and staffed
Gas industry
Ashland Petroleum Company, the largest operating division of Ashland Inc., has been recognized for its exceptional quality performance by Toyota Motor Manufacturing, U.S.A. Inc. for the second consecutive year. The company's dedicated employees have been praised for their hard work and commitment to excellence in supplying
Gas industry
J.D. Edwards and New Jersey Natural Gas (NJNG) have announced a joint development effort to create a Customer Information and Billing System, a software solution designed to enhance customer service and streamline business processes for the utility industry. This collaborative project aims to leverage the latest technology to provide
Gas industry
Rentech Inc., the developer and marketer of a patented process for converting gas into liquid hydrocarbons, announced its financial results for the fiscal year ended December 31, 1994. The company reported a net loss of $1,450,049, or $0.17 per share, compared to a net loss of $287,
Gas industry
Triton Energy Corp. has announced the substantial completion of all shareholder, operating, and transportation agreements for Oleoducto Central S.A. (OCENSA), a new Colombian pipeline company. The partnership, which includes Triton Energy, Ecopetrol, IPL Enterprises, TCPL International Investments, BP Colombia Pipelines Limited, and TOTAL Pipeline Colombie, will own, expand, finance,
Gas industry
The Louisiana Independent Oil and Gas Association (LIOGA) has formally endorsed federal legislation that would enable the formation of natural gas producer cooperatives. At its annual meeting, LIOGA Chairman Bob Meredith emphasized the importance of this legislation, stating that it would provide greater efficiency and economies of scale, enabling producers
Gas industry
Tenneco Gas Marketing Co. has introduced a new program, the Tenneco Alliance Program (TAP), to market natural gas to retail customers throughout the country. The program leverages oil jobbers to buy and market natural gas to retail customers on local distribution company (LDC) systems. The program aims to capture a
Gas industry
A lively debate unfolded during a Senate Environment and Public Works Committee hearing on Wednesday, with senators, including James Inhofe of Oklahoma, questioning the impact of environmental regulations on the domestic petroleum industry. Environmental Protection Agency (EPA) Administrator Carol M. Browner testified that a proposed comprehensive cost-benefit law may hinder
Gas industry
Crude oil stockpiles in the United States saw significant fluctuations last week, with the American Petroleum Institute (API) and the Department of Energy's Energy Information Administration (EIA) releasing conflicting data. According to the API, crude stocks for the week ended March 17 fell 407,000 barrels to 325.
