Energy

  • July 26, 2007

    EnCana Pays $20.5M To Settle State Class Action

    EnCana Corp. and its U.S.-based energy trading unit WD Energy Services Inc. have agreed to pay $20.5 million to put to rest a state court class action alleging the company conspired to artificially raise the price of natural gas in California from 1999 to 2002, the company said in a regulatory filing Thursday.

  • July 25, 2007

    Airline Joins Antitrust Complaint Against OMV

    Austrian Airlines AG said Tuesday that it had joined a legal complaint against state-owned oil and gas company OMV AG, which allegedly overcharged it by €36 million for jet fuel.

  • July 25, 2007

    Court Sides With FERC In Gas Pipeline Dispute

    An association for natural gas pipeline owners will have to record the costs of testing pipeline systems as expenses, after a circuit judge ruled on Tuesday that its arguments to treat the costs as investments were unreasonable and insufficient.

  • July 25, 2007

    More Former Expanets Execs Accused Of Fraud

    Two former officers of a subsidiary of utility NorthWestern Corp. have been accused by the U.S. Securities and Exchange Commission of overstating the financial performance of the company.

  • July 25, 2007

    EPA Takes Aim At ChemCentral Over Explosion

    The U.S. Environmental Protection Agency has filed a civil complaint against ChemCentral Midwest Corp., alleging that violations of environmental and public health laws led to an explosion and fire that destroyed the company's Kansas City, Mo. facility.

  • July 25, 2007

    Transocean In Court Over Offshore Drilling Patents

    Transocean Inc., the world’s largest offshore drilling company, filed suit Tuesday claiming that offshore drilling contractor Maersk Contractors USA Inc. has infringed on various patents covering deepwater drill technology.

  • July 25, 2007

    Suits Squabble Over Energy Futures Jurisdiction

    The Commodity Futures Trading Commission slammed Amaranth Advisors LLC and its former head energy trader with a suit Wednesday accusing them of manipulating natural gas futures. That accusation has already prompted discussions among lawmakers about how to regulate markets.

  • July 24, 2007

    Ex-Amaranth Trader Seeks To Head Off FERC Action

    Brian Hunter, the energy trader who allegedly dragged hedge fund Amaranth Advisors LLC into financial collapse with bad trades, has reportedly sued the U.S. Federal Energy Regulatory Commission in an effort to ward off regulatory action.

  • July 24, 2007

    Railroad Reveals Subpoena Over Fuel Surcharges

    Railroad company Burlington Northern Santa Fe Corp. on Tuesday disclosed that it has received a state grand jury subpoena requesting documents related to its practice of adding fuel surcharges to freight transportation services.

  • July 24, 2007

    FERC OKs $400M Las Vegas Pipeline Expansion

    Pipeline transportation company Kinder Morgan Energy Partners LP won the Federal Energy Regulation Commission's approval on Friday to develop a $400 million expansion of the CalNev pipeline system into Las Vegas.

  • July 24, 2007

    Ex-Willbros Exec Indicted In Nigerian Bribe Scandal

    A former executive of pipeline construction company Willbros Group Inc. has been indicted on charges of conspiring to make corrupt payments to Nigerian officials in a bid to obtain a state-owned oil company, the U.S. Department of Justice said Monday.

  • July 24, 2007

    Offshore Drilling Merger May Pose Antitrust Concerns

    The proposed merger announced Monday of the two largest offshore oil and gas drilling companies in the world, Transocean Inc. and GlobalSantaFe Corp., will be met with close scrutiny and potential objections from competition regulators, attorneys say.

  • July 24, 2007

    Plaintiffs Add State Claims In Natural Gas MDL

    Plaintiffs in a massive antitrust case against a group of natural gas wholesalers have lodged a second amended complaint, charging that the defendants' alleged price-fixing scheme violates Wisconsin state law and makes them eligible for treble damages.

  • July 23, 2007

    EU Refers Poland To Court Over Electricity Taxes

    The European Commission has referred Poland to the European Court of Justice, claiming that the member state has refused to comply with repeated warnings to bring its electricity taxation system in line with European Union law.

  • July 23, 2007

    Judge Dismisses Derivative Suit Against BP

    A judge on Monday dismissed a derivative suit against BP plc, ruling that claims of breach of fiduciary duty relating to the Prudhoe Bay oil leak and other missteps could not be heard in New York district court, since the British-based company is subject to British law.

  • July 23, 2007

    CenterPoint Joins EEOC Mediation Agreement

    Utility company CenterPoint Energy has joined a growing list of large companies that have signed an agreement with the U.S. Equal Employment Opportunity Commission to resolve labor disputes through mediation, the EEOC announced Friday.

  • July 23, 2007

    Judge Gives Asarco More Time—Again

    A judge has given bankrupt mining company Asarco LLC three more months to file its exclusive plan to reorganize, a partial victory for Asarco since it had asked for about four months.

  • July 23, 2007

    Mining Cos. Agree To Pay Up For Site Cleanup

    Newmont Mining Corp. and bankrupt Asarco LLC have struck a settlement with the U.S. Department of Justice worth close to $40 million, which will go towards paying for the cleanup of a large mining site that has been polluted with over 2,000 waste piles.

  • July 23, 2007

    Aera Energy May Be Hit With More Damages

    A California farming family has won a retrial in its case against an oil company owned by Exxon Mobil Corp. and Shell Oil Co., after arguing that the $3.8 million damages it was originally awarded were not enough.

  • July 23, 2007

    Appeals Court Checks FERC's Regulatory Authority

    An appeals court on Friday vacated a Federal Energy Regulatory Commission order that a California city refund a power utility, thereby limiting FERC's power to regulate governmental entities.