Energy

  • April 11, 2007

    Creditors Attack Calpine’s Rising Legal Fees

    Marking the latest dissent over skyrocketing fees in Calpine Corp.’s Chapter 11 case, the company’s unsecured creditors have asked a bankruptcy judge to appoint a fee review committee to evaluate the energy firm’s professional fees.

  • April 11, 2007

    FTC Opposes Oil Refiners' Merger

    The Federal Trade Commission has moved to suspend a $1.4 billion merger between two oil refineries amid concerns that it would reduce New Mexico’s light petroleum supply and impede a future drop in prices.

  • April 11, 2007

    Survivors Sue Massey Energy Over Coal Mine Fire

    Former West Virginia coal mine workers who survived a raging blaze that killed two employees have sued Massey Energy for allegedly maintaining unsafe work conditions.

  • April 10, 2007

    Fund Accuses Calpine Of Underestimating Value

    Bankrupt energy provider Calpine Corp. has underestimated its value by about $11 billion, according to one of the company’s major shareholders.

  • April 10, 2007

    Oil Price-Gouging Laws Harmful To Economy: Study

    A proposed law to penalize oil and gas companies for price-gouging will disrupt the United States economy and lead to fuel shortages reminiscent of the energy crisis of the 1970s, a new study by a conservative think tank has warned.

  • April 10, 2007

    Attorneys Fees In Shell Action Kept Sealed

    A law professor has challenged the decision of a judge presiding over a multimillion-dollar lawsuit against Shell Oil Co. to seal an exhibit that discloses how $6.8 million in attorneys’ fees will be allocated.

  • April 10, 2007

    Regulators Probe Ameren Over Credit Ratings

    The Missouri Public Service Commission has issued subpoenas to electricity and natural gas utility Ameren Corp. and its affiliates requesting seven years of communications between the company and three major credit rating services.

  • April 9, 2007

    Georgia Power Faces Suit Over Pollution

    Environmentalists filed a lawsuit Friday to force the Environmental Protection Agency to require Georgia Power to clean up a plant that it says has been operating in violation of the Clean Air Act for more than 20 years.

  • April 9, 2007

    Kinder Morgan In $8.4M Settlement

    The family of a man killed in a 2004 explosion caused by a backhoe striking a high-pressure pipeline owned by Kinder Morgan Energy Partners LP has agreed to an $8.4 million settlement, a development that comes as the local district attorney mulls filing criminal charges in connection with the deadly accident.

  • April 9, 2007

    TXU Says It Will Not Shut Power Plants

    TXU Corp. has promised it will not shut down any power plants, after the private equity firms that bid to buy the utility firmly balked at a regulatory filing in which the company suggested it would close certain plants in order to avoid a $210 million fine.

  • April 10, 2007

    FTC Head Calls For Transparency In Energy Policies

    Amid the nation’s growing demand for energy, the head of the Federal Trade Commission on Tuesday called for better communication between regulators and the American public concerning the role of competition in energy markets.

  • April 9, 2007

    Bush Hydroelectric Plan Illegally Kills Salmon: Circuit

    A Bush administration plan to maintain four hydroelectric dams that threaten endangered salmon in the lower Snake River in eastern Washington disregards the government’s environmental responsibilities, a circuit court ruled Monday.

  • April 5, 2007

    Sinclair Oil Fined $5.5M For Violating Clean Water Act

    Sinclair Oil and two of its former managers will pay $5.5 million for felony violations of the Clean Water Act related to the operation of its Oklahoma subsidiary, Sinclair Tulsa Refining Co.

  • April 5, 2007

    Rex Energy Agrees To Reduce Noxious Emissions

    Oil producer Rex Energy Operating Corp. has agreed to reduce hydrogen sulfide emissions at an Illinois facility after the U.S. government brought Clean Air Act charges against it.

  • April 5, 2007

    Judge Sets Retrial Date In Nigerian Barge Case

    Three former Merrill Lynch & Co. employees who were convicted in the Nigerian Barge scandal following the collapse of Enron Corp. will be retried on the charges in January 2008.

  • April 9, 2007

    Enron Shareholders Petition For High Court Review

    Enron shareholders that suffered a setback when an appeals court threw out their class action suit against the now-defunct energy company’s underwriters have asked the U.S. Supreme Court to consider their case.

  • April 5, 2007

    Calpine Objects To Hire Of Financial Advisor

    Calpine Corp. has lashed out against a bid by its equity committee to retain Perella Weinberg Partners LP as its financial advisor, arguing that the move could cost as much as $40 million in fees.

  • April 5, 2007

    Outstanding Women: Rachel Clingman

    When Hurricanes Katrina and Rita blew through the Gulf of Mexico and heavily damaged oil-drilling operations in place there, British insurer Lloyd’s of London suddenly found itself dragged into a legal mêlée. It turned to Rachel Giesber Clingman to pull it out of the courts and get it back on track.

  • April 4, 2007

    Ex-Enron VP’s Conviction Tossed

    Invoking the theory of “honest services,” a Houston judge has thrown out the conviction of a former Enron vice president. A federal judge in Houston dismissed charges yesterday against a former energy trader at Enron who admitted to participating in the fraud that destroyed the company.

  • April 4, 2007

    Court Orders FERC To Review Phase-Out Ruling

    The U.S. energy watchdog was ordered Tuesday to reconsider its decision to give public utility Entergy Corp. one year to fix an unreasonable formula used to spread costs around.