Monthly Archives: August 2007

Who's afraid of the subprime wolf? Not Dynegy …

…. or other power companies. As Standard & Poor’s says in a new report: The U.S. power sector’s fundamentals have improved sufficiently during the past several years so that most, if not all, companies should be able to refinance pending maturities despite the credit markets’ current unsettled nature …. This isn’t just the big, conservative […]  More »

The SEC asks questions about pay

The Securities and Exchange Commission has been reviewing the latest round of annual proxy statements from companies and is asking a whole lot of questions, particularly when it comes to executive pay, says Brent Longnecker, a Houston-area compensation consultant whose firm collects data for the Chronicle’s annual executive pay survey. (The list is pretty heavy […]  More »

A new gas crossroads

Enterprise Products Partners of Houston and Questar Corp. of Salt Lake City are partnering to create a new hub that will connect up to six gas pipelines out of the Rockies. The project isn’t very big — $38 million split between the companies for about seven miles of new pipe. But when it’s completed the […]  More »

Nat gas bubble deflates

Hurricane Dean’s veer away from the Gulf of Mexico’s main energy producing region revealed a little something about natural gas prices, say the folks at Tudor Pickering Partners in a research note: Apparently there was a Hurricane premium in nat gas…a big one! Mexico’s loss is GOM production’s gain. On Monday natural gas prices had […]  More »

Alaskan gas pipeline deadline extended

Alaska is giving companies two more months to submit bids to build what could be a massive pipeline to ship natural gas from Alaska’s North Slope. According to the Associated Press: Gov. Palin has been pushing hard for the new pipeline. The deadline was pushed from Oct. 1 to Nov. 30 because more companies have […]  More »

The electric grid girds itself for hot weather

It’s been a relatively mild summer in Texas so far (I’m not saying comfortable, just not quite as hot), so power flowing over the state’s power grid daily hasn’t hit new high yet. That may change in the next week. The record peak reported by the Electric Reliability Council of Texas, the organization that oversees […]  More »

Another weekly gasoline gauge

MasterCard will be launching a new weekly report on U.S. gasoline demand today based on purchases made at gas stations using its credit cards. MasterCard Advisors, LLC, the professional services arm of MasterCard Worldwide, will introduce the Spending Pulse U.S. Gasoline Demand Report each Tuesday. OK, so prices aren’t quite this bad right now. AP […]  More »

Basell and Lyondell execs. explain merger

The top officers of Dutch chemical firm Basell Holdings and Houston’s Lyondell Chemical Co. began meeting in Houston this week to hash out details of their pending merger. On Thursday, the CEO’s of both companies sat for an interview with the Houston Chronicle to explain why Basell’s $12 billion acquisition of Lyondell makes sense. “This […]  More »

A deal to avoid future manipulation claims against TXU

The Public Utility Commission approved a plan earlier this week for TXU’s power generation business, Luminant, to operate without drawing further claims of market manipulation. That doesn’t mean the company is off the hook from that $210 million fine the PUC wants to levy, however. The agreement essentially spells out a plan that will keep […]  More »

Marathon settles price manipulation charges

Marathon Oil will pay a $1 million civil penalty to settle allegations it tried to manipulate WTI back in 2003. Here’s the Commodity Futures Trading Commission release. The company said back in May it was expecting the charges and said at the time it “intends to vigorously defend the proposed enforcement action.” Under terms of […]  More »