Platts Energy Bulletin

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Jan 25, 2002

What's New on platts.com?
Platts Enron Report: Read about the implications of Enron's bankruptcy on the
financial and energy communities.
(http://www.platts.com/features/enron/index.shtml)

Bandwidth Update: Ambient and Southern Telecom to develop and test power line
communications system. (http://www.platts.com/bandwidth/index.shtml)


Futures Round-up
NYMEX: Crude to open higher despite lack of news
NYMEX March crude oil is called to open 15 cts higher at $19.85/bbl Friday.
March Brent is called to open 17 cts higher at $19.31/bbl. February heating oil
is called to open 11 pts higher at 53.50 cts/gal and February unleaded gasoline
is called to open 40 pts higher at 57.25 cts/gal.

IPE Brent Focus: Technical buying pushes IPE Brent crude higher Friday
Front-month March gapped higher in ETS electronic trading early on, opening at
$19.35/bbl, up from Thursday's high of $19.25/bbl. Gains were consolidated in
open outcry business and at 1100 GMT the contract stood at $19.49/bbl, 36 cts
higher than the previous day's close. April Brent had climbed 32 cts to trade at
$19.61/bbl at the same time.

News Round-up
Click on the headlines below or paste the URLs provided in your internet browser
to see the full story.

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ENERGY INSIGHT:
(For Premium Customers)
Liquefied natural gas proponents remain bullish
In the 1970s-early 1980s, soaring natural gas prices and the faulty belief the
United States would run out of natural gas within a decade led to the
construction of four liquefied natural gas terminals. (http://www.einsight.com)


OIL:
Devon Energy completes $3.15-bil acquisition of Mitchell
Devon Energy Jan 24 said it had completed its $3.15-bil acquisition of Mitchell
Energy & Development after shareholders of both companies approved the deal in
separate meetings earlier in the day.
(http://www.platts.com/archives.shtml#58130)

NATURAL GAS:
Philippines mulls sale of PNOC's stake in Malampaya gas
Enron late Jan 24 said it would continue to pursue a lawsuit against Dynegy
seeking $10-bil in damages arising out of Dynegy's termination of its merger
agreement with Enron, and amend that complaint to add an additional damage claim
alleging that Dynegy's exercise of the Northern Natural Gas Pipeline option was
wrongful. (http://www.platts.com/archives.shtml#57291)

PETROCHEMICALS:
ExxonMobil opens $2-bil chemical complex in Singapore
ExxonMobil Chemical officially opened its $2-bil petrochemical complex in
Singapore, known as the Singapore Chemical Plant on Friday.
(http://www.platts.com/archives.shtml#58153)

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search, compare and find the products and services you need. Click to add your
listing. (http://www.mediabrains.com/client/platts/bg1/search.asp)


ELECTRIC POWER:
Sempra reviewing Enron assets for possible purchase
Sempra Energy has been looking at "hard assets" owned by bankrupt Enron,
including its natural gas pipelines, energy services contracts and trading
operations, but has yet to make any final decision, Stephen Baum, Sempra
chairman, president and chief executive officer, said Jan 24.
(http://www.platts.com/archives.shtml#57305)

NUCLEAR:
Las Vegas, county ask court to stop Yucca Mt project
Las Vegas and Clark County, Nevada asked a federal court for help Jan 24 in
stopping DOE's repository project at Yucca Mountain, 90 miles outside Las Vegas.
(http://www.platts.com/archives.shtml#58133)

COAL:
Egyptian firm seeks US Coal
Egyptian company Al Nasr Co for Coke & Chemicals is asking US producers to
prequalify to supply metallurgical coal to the company over a four-year period.
(http://www.platts.com/archives.shtml#58141)

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