Energy Information Administratin

Privatization and the Globalization of Energy Markets

Endnotes

  1. Economic Change Social Upheaval; Governments Cutting Welfare Benefits, Selling State-run Firms," The Washington Post (August 7, 1994), p. A1.
  2. British Labor Party Scraps nationalization Clause," The Wall Street Journal (May 1, 1995), p. A11.
  3. The World Bank Report of 1994, The World Bank (New York, Oxford University Press, 1995).
  4. "Sale of the Century,"The Wall Street Journal (October 2, 1995), p. R4.
  5. "Sale of the Century," The Wall Street Journal (October 2, 1995), p. R4.
  6. "Sale of the Century," The Wall Street Journal (October 2, 1995), p. R4.
  7. The objectives of privatization appeared in: Privatization: Learning the Lessons from the U.K. Experiences (London, U.K., Price Waterhouse, 1989). However, objective number two, "to raise investment capital for the privatized industry or company," was added by the authors of this report.
  8. The New York Times (August 4, 1995), p. D2.
  9. "Enron Pursues Arbitration in Dispute Over Project Canceled by Indian State," The Wall Street Journal (August 7, 1995), p. B6A.
  10. The Organization of Economic Cooperation and Development (OECD) includes Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Japan, Luxembourg, the Netherlands, New Zealand, Norway, Portugal, Spain, Sweden, Switzerland, Turkey, the United Kingdom, and the United States.
  11. One motive for privatizing only a small portion of a state-owned enterprise has to do with the concept of " price discovery." Allowing even a small fraction of an enterprise's shares to be publicly traded enables the market to signal an appraisal of the value of the entire enterprise. This would be one means for the state to measure management performance.
  12. Energy Information Administration, International Energy Review 1993 , DOE/EIA-02219(93)(Washington DC, May 1995), p. 22.
  13. "Plan to Mix Oil with Oil in Europe," The New York Times (March 1, 1996), p. D3.
  14. "BP agrees $3.5 billion deal to develop Algerian gas fields," Financial Times (December 18, 1995), p.1.
  15. British Petroleum, Annual Report on Form 20-F 1994 , p. 7.
  16. British Petroleum, Annual Report on Form 20-F 1994 , p. 7.
  17. British Petroleum, BP Financial and Operating Information 1991-1995, p. 18.
  18. "A Very Refined Dilemma," The Financial Times (January 12, 1996), p. 19.
  19. "BP to Slim German Gas Stations," The Wall Street Journal (February 16, 1996), p. A6.
  20. British Petroleum, BP Financial and Operating Information 1991-1995, p. 19.
  21. Elf Aquitaine, 1995 Annual Repor t, pp.3 and 37.
  22. TOTAL, 1995 Fact Book , p. 21.
  23. TOTAL, 1995 Fact Book , p. 34.
  24. "ENI Pays First Dividend for 23 years," Financial Times " (May 11, 1995), p. 27.
  25. Petro-Canada, 1994 and 1995 Annual Report , p.44 and p. 48, respectively.
  26. Petro-Canada, 1995 Annual Report , p. 27.
  27. "Petro-Canada Emerging as a Model of State Oil Company Privatization," The Oil and Gas Journal (December 25, 1995), p.22.
  28. "The Americas: Repsol Group Wins Auction for Refinery," Financial Times (June 12, 1996), p. 31.
  29. "YPF S.A. Announces Successful Bid for Peru's LaPompilla Refinery," PR Newswire (June 12, 1996).
  30. "Full Privatization of Repsol A Reality," Platt's Pilgram New s (May 15, 1996), p.2.
  31. Statoil, Annual Reports and Accounts 1995, pp. 23 and 24.
  32. World Bank, World Debt Tables 1996, pp. 204-205.
  33. U.S. Department of Commerce, Bureau of Economic Analysis, Survey of Current Business (Washington DC, August 1990-August 1995). Note: The FDI in Latin American calculation excludes Panama, as Panama is frequently used as an offshore depository of funds reinvested in other countries.
  34. One of the most notable exceptions is Maxus, formerly an independent U.S. oil company, which was purchased during 1994 by YPF.
  35. Energy Information Administration, Form EIA-28 , Financial Reporting System.
  36. "International Rig Count," Oil and Gas Journal (January 15, 1996), p. 62.
  37. "Foreign and Private Investment Needed," World Oil , Vol. 216, No. 8 (August 1995), p. 45ff.
  38. "International Rig Count," Oil and Gas Journal , 93 (February 20, 1995).
  39. U.S. Department of Commerce, Bureau of Economic Analysis, Survey of Current Business (Washington, DC, various issues August 1990-August 1995).
  40. "Privatization of State Company Catalyzes Argentine Oil Industry," Oil and Gas Journal , 93 (February 13, 1995), p. 46.
  41. Petroleum Intelligence Weekly (December 14, 1992).
  42. "Privatization of State Company Catalyzes Argentine Oil Industry," Oil and Gas Journal , 93 (February 13, 1995), p. 52.
  43. Durgin, Hillary, "Pride agrees to buy Argentina driller," The Houston Chronicle (March 19, 1996), p. 3.
  44. Bowen, Sally, "Companies and Finance: The Americas: Repsol group wins auction for refinery," Financial Times (June 12, 1996), p. 31.
  45. Goldman, Joe and Peter Zipf, "Mobil Circling Around a Stake in Astra," Platts Oilgram News (May 24, 1996), p. 1.
  46. "Bolivia Signs New Trade and Cooperation Accords with Chile and Argentina," Chronicle of Latin American Economic Affairs (October 20, 1994).
  47. "Privatizations Open Exploration and Production Opportunities," World Oil (August 1994).
  48. YPF, 1994 Annual Report , p. 3.
  49. YPF, 1994 Annual Report , p. 2.
  50. "Mexico opens northern cities for natural gas distribution," Energy Report, 24 (May 27, 1996) and Kummer, Kristie, "U.S.-Mexico natural gas issues," Gas Energy Review , 24 (April 1996), p. 6.
  51. The Economist (August 21, 1993). These sales raised over $20 billion.
  52. Petroleum Intelligence Weekly (June 10, 1991).
  53. Yergin, Daniel, The Prize (New York: Simon Schuster, 1991), pp. 229-233.
  54. Yergin, Daniel, The Prize (New York: Simon Schuster, 1991), pp. 271-279.
  55. "New President Pledges Economic Liberalization," Petroleum Economist , Vol. 61, No. 11 (November 1994), p. 17.
  56. Yergin, Daniel, The Prize (New York: Simon Schuster, 1991), pp. 648-650.
  57. Huber, Ed, "Opportunities in the Americas: Pipeline projects open Latin markets," Oil and Gas Investor , 16 (February 1996), p. 2.
  58. "Venezuela Seen as Next Boom Town for Project Finance Deals," Bank Letter, 20 (January 22, 1996), p. 2.
  59. Marquez, Humberto, "Venezuela: Debate on Oil Privatization Goes On, and On ...," Inter Press Service (May 7, 1996) and Katsouris, Christina, "PDVSA chief mulls sale of minority stake in firm as country reforms petroleum sector," The Oil Daily , 46 (April 24, 1996), p. 1.
  60. Chatterjee, Pratap, "Oil and Gas Industry Gears Up for Latin America Bonanza," Inter Press Service (March 5, 1996).
  61. "German-U.S.-Japanese team wins oil exploration license in Caracas," Deutsche Presse-Agentur (January 22, 1996).
  62. See, for example, Yergin, Daniel, The Prize (New York: Simon Schuster,1991), pp. 648-650.
  63. "Conoco-Maraven combine to tap Orinoco crude," Oil and Gas Journal , 93 (November 20, 1995), p. 41.
  64. Mann, Joseph, "Mobil returns to Venezuela," Financial Times (April 4, 1995), p. 27.
  65. National Petroleum News Market Facts '95 (mid-June 1995), p. 35.
  66. Energy Information Administration, Petroleum Supply Annual 1993 , DOE/EIA-0340(93) (Washington, DC, June 1994), pp. 110-114.
  67. "Energy in Latin America; Even Oil is Growing Less Sacred," The Economist (June 1, 1996), p. 63.
  68. Music, Kimberley, "Brazilian energy minister offers plan for regulation of newly opened sector," The Oil Daily , 45 (December 21, 1995), p. 1.
  69. Platts Oilgram News (August 13, 1993).
  70. The Oil Daily (December 21, 1995), p. 1.
  71. World Oil (August 1994).
  72. A remittance tax is a withholding tax assessed on proceeds earned by a company's activities in some foreign country. The expectation is that the proceeds will be repatriated. Often the remittance tax may be avoided by reinvesting the proceeds in the host country. In the case of Colombia, if the reinvestment is maintained for at least ten years, then the tax is forgiven entirely. See Neira-Mejia, Luis Carlos and Ricardo Munoz-Mejia, "Colombia," International Financial Law Review (October 1994), pp. 16-20.
  73. Oil and Gas Journal (November 20, 1995), p. 30.
  74. Reuters Financial Energy News (September 6, 1994).
  75. "Getting in Step; Latin American Governments Turn to Private Sector for Infrastructure Needs,"Latin Finance , Vo. 58 (June 1994), p. 58ff.
  76. "Ecuador Investment: FDI Falls 11.5% to $470m in 1995," EIU Views Wire (January 23, 1996).
  77. "Peru's La Pampilla Refinery Sold for $180.5 million," Reuters (June 11, 1996).
  78. Bowen, Sally, "Companies and Finance: The Americas: Repsol group wins auction for refinery," Financial Times (June 12, 1996), p. 31.
  79. Katsouris, Christina, "ARCO signs E&P contract with Perupetro as firm recovers from tender offer flop," The Oil Daily , 45 (December 11, 1995), p. 1.
  80. "Group Led by Elf Signs Peru Oil, Gas Deal," Reuters (September 8, 1995).
  81. Oil and Gas Journal , 93 (January 16, 1995).
  82. "YPF S.A. Announces Successful Bid for Peru's La Pampilla Refinery," PR Newswire (June 12, 1996).
  83. Bowen, Sally, "News: The Americas: Sell-off initiative heading for trouble," Financial Times (April 16, 1996), p. 3.
  84. Financial Times (April 16, 1996), p. 3.
  85. Kielmas, Maria, "Latin America restructures," Petroleum Economist , 62 (September 1995), p. 40.
  86. Kielmas, Maria, "Latin America restructures," Petroleum Economist , 62 (September 1995), p. 41.
  87. Chevron Corporation, Press Release (June 28, 1995).
  88. "Enron Signs Bolivian Pipeline Deal," Latin American Energy Alert (December 20, 1994).
  89. "Peru Action Simmering Despite Privatization Delays," Oil and Gas Journal (August 7, 1995).
  90. Oil and Gas Investor, 15 (October 1995), pp. 94-95; and "Bolivia: Thirty-five register for YPFB," Privatization International (October 1, 1995).
  91. "Foreign and Private Investment Needed," World Oil , 216 (August 1995), p. 45.
  92. "Gas Outlays to Rise in Trinidad/Tobago," Oil and Gas Journal (July 15, 1996), p. 26.
  93. The Coastal Corporation, Annual Report 1995 , p. 29.
  94. "Oil Industry Privatization, Russia Style," Petroleum Economist (February 1996), p. 4.
  95. 4."Petroleum Intelligence Weekly Ranks the World's Top 50 Oil Companies," Petroleum Intelligence Weekly - Special Supplement Issue (December 18, 1995).
  96. Energy Information Administration, Country Analysis Briefs 1994 (May 1995), p.
  97. Eales, R. and Bourne, J., "Elf Reduces Its Stake in Enterprise Oil, Share Sale Retains J-V," Platt's Oilgram News , Vol. 72, No. 215 (November 4, 1994), p. 1.
  98. Energy Information Administration, International Petroleum Statistics Report (June 1996), pp. 6 and 8.
  99. "Russian Refining Shows Signs of Revival, Needs Investment," Oil & Gas Journal (March 25, 1996), pp. 48, 51-52.
  100. "Russian Refining Shows Signs of Revival, Needs Investment," Oil & Gas Journal (March 25, 1996), pp. 48, 51-52.
  101. "Russian Refining Shows Signs of Revival, Needs Investment," Oil & Gas Journal (March 25, 1996), pp. 48, 51-52.
  102. Reserves and production:"Petroleum Intelligence Weekly Ranks the World's Top 50 Oil Companies," Petroleum Intelligence Weekly, Special Supplement Issue (December 18, 1995).
  103. Energy Information Administration, Country Analysis Briefs: 1995 (January 1996).
  104. Energy Information Administration, Country Analysis Briefs: 1995 (January 1996).
  105. "Robber Baron," Forbes (September 11, 1995), pp. 13-16.
  106. Saudi Arabia began outproducing the FSU in 1993.
  107. Nefte Compass, Vol. 5, No. 4 (January 25, 1996), p. 7.
  108. Energy Information Administration, Country Analysis Briefs : 1995 (January 1996).
  109. "Yeltsin Signs PSA Law As TOTAL Carries The Torch," Nefte Compass , Vol. 5 No. 1 (January 4, 1996), pp. 1-2.
  110. "Reign of the Self-assured Lords; Russian Petroleum Industry; Industry Overview," Petroleum Economist (March 1995), p. 33.
  111. "Reign of the Self-assured Lords; Russian Petroleum Industry; Industry Overviews," Petroleum Economist (March 1995), p. 33.
  112. "New Pact for Kazakh-Russian Oil Pipeline," New York Times (April 29, 1996), p. 8.
  113. The AIOC consists of British Petroleum/Statoil, Amoco, Exxon, Pennzoil, Unocal, Lukoil, Itochu, Ramco, Delta-Nimar, Turkey's TPAO, and SOCAR. "Filling the Vacuum," Russian Petroleum Investor (May 1996), p. 44.
  114. "Russia, Turkey Vie for Control Over Caspian Sea Oil Riches," The Christian Science Monitor (April 24, 1996), p. 19.
  115. "Caspian Sea Attractive But Controversial," Petroleum Economist (January 1996), p. 36.
  116. "Once-Major Oil Province Looks to Caspian for its Comeback; Caspian Sea," Petroleum Economist (March 1996), p. 8.
  117. "Once-Major Oil Province Looks to Caspian for its Comeback; Caspian Sea," Petroleum Economist (March 1996), p. 8.
  118. " Worldwide Refining Report," Oil and Gas Journal (December 18, 1995), p. 57.
  119. "Pipeline Problems Block Oil Sector Development," Petroleum Economist (April 1996), p. 10.
  120. "Pipeline Problems Block Oil Sector Development," Petroleum Economist (April 1996), p. 10.
  121. "OGJ Worldwide Production," Oil and Gas Journal (December 25, 1995), p. 43.
  122. "Pipeline Problems Block Oil Sector Development," Petroleum Economist (April 1996), p.12
  123. "Samson Blows Away Hurrican, Wins Bid For Kazak Procucer," The Oil Daily (June 7, 1996), p. 5.
  124. "Kazakhstan Sets Up Test Case for Oil Privatization," Financial Times (April 30, 1996), p. 25.
  125. "Mobil Takes 25 Percent Piece of Tengiz Field," Platt's Oilgram News (April 18, 1996), p. 1.
  126. "Pipeline Problems Block Oil Sector Development," Petroleum Economist (April 1996), p. 11.
  127. "Worldwide Refining Report," Oil and Gas Journal (December 18, 1995), p. 57.
  128. "Eastern Europe - Reluctant to Sell," Petroleum Economist , Vol. 62, No. 9 (September 1995), p. 22.
  129. "Eastern Europe - Reluctant to Sell," Petroleum Economist , Vol. 62, No. 9 (September 1995), p. 22.
  130. "Albania Aims to Accelerate Oil and Gas Exploration," Financial Times (November 29, 1995), p. 57.
  131. "Eastern Europe - Reluctant to Sell," Petroleum Economist , Vol. 62, No. 9 (September 1995), p. 22.
  132. "Albania Aims to Accelerate Oil and Gas Exploration," Financial Times (November 29, 1995), p. 57.
  133. "Albania Aims to Accelerate Oil and Gas Exploration," Financial Times (November 29, 1995), p. 57.
  134. "Eastern Europe - Reluctant to Sell," Petroleum Economist , Vol. 62, No. 9 (September 1995), p. 23.
  135. "Eastern Europe - Reluctant to Sell," Petroleum Economist , Vol. 62, No. 9 (September 1995), p. 23.
  136. "Eastern Europe - Reluctant to Sell," Petroleum Economist , Vol. 62, No. 9 (September 1995), p. 23.
  137. "Eastern Europe - Reluctant to Sell," Petroleum Economist (September 1995), p. 22.
  138. "Reformed Prague Gets to Join the Club: Membership of the Capitalist OECD Grouping is Seal of Approval," Financial Times (November 28, 1995), p. 2.
  139. "Eastern Europe Reluctant to Sell," Petroleum Economist , Vol. 62, No. 9 (September 1995), p. 23. "Czech Refinery Deal, Long in Making, Finally Signed," Platt's Oilgram News , Vol. 73, No. 221 (November 16, 1995), p. 6.
  140. "Eastern Europe Reluctant to Sell," Petroleum Economist Vol. 62, No. 9 (September 1995), p. 23. "Czech Refinery Deal, Long in Making, Finally Signed," Platt's Oilgram News , Vol. 73, No. 221 (November 16, 1995), p. 6.
  141. "Eastern Europe Reluctant to Sell," Petroleum Economist (September 1995), pp. 23-4.
  142. Vacova, T. "Slovakia's 'Golden Eggs' Law May Deter Investors," The Reuter European Business Report (July 14, 1995).
  143. Janowski, T. "E. Europe Faces Main Privatisation Tasks," The Reuter European Community Report (January 17, 1996).
  144. "MOL Issue Priced at Bottom of Equity Range Equity Offerings," Financial Times (November 22, 1995), p. 35.
  145. "Privatizing in Hungary: A Door Reopens," The New York Times (October 17, 1995), p. D1.
  146. "Hungary's Privatization Program Advances," Oil and Gas Journal (September 11, 1995), p. 26
  147. "Eastern Europe--Reluctant to Sell; Special Report: National Energy Companies--A New Era; Industry Overview," Petroleum Economist (September 1995), p. 22.
  148. "Eastern Europe--Reluctant to Sell; Special Report: National Energy Companies--A New Era; Industry Overview," Petroleum Economist (September 1995), p. 22.
  149. "MOL Announces Nine Months Results," PR Newswire (December 15, 1995).
  150. "Privatizing in Hungary: A Door Reopens," The New York Times (October 17, 1995), p. D1.
  151. "Privatizing in Hungary: A Door Reopens," The New York Times (October 17, 1995), p. D1.
  152. "Hungary Prepares for Gas Sale with Privatization Law," East European Energy Report (May 22, 1995).
  153. "Hungary Petroleum Privatization Limited by Economic Concerns," Oil and Gas Journal (July 4, 1994), pp. 24, 27-8.
  154. Janowski, T. "Feature--Poland Sees No Big Change in Privatization Course," The Reuter European Business Report (February 26, 1996).
  155. Janowski, T. "Feature Poland Sees No Big Change in Privatization Course," The Reuter European Business Report (February 26, 1996).
  156. "IEA/Hungary/Poland: Reports Praise Progress in Energy Liberalisation," Europe Energy (July 14, 1995).
  157. "Chevron Deal in Poland," The New York Times (June 14, 1995), p. 20.
  158. "Amoco to Retail Petrol in Poland," Financial Times (June 14, 1995), p. 32.
  159. "Amoco to Retail Petrol in Poland," Financial Times (June 14, 1995), p. 32.
  160. "Eastern Europe Reluctant to Sell," Petroleum Economist , Vol. 62, No. 9 (September 1995), p. 22ff.
  161. "Eastern Europe Reluctant to Sell," Petroleum Economist , Vol, 62, No. 9 (September 1995), p. 24.
  162. "Romania Pinpoints Blocks on Offer," Oil & Gas Journal (May 13, 1996), p. 42.
  163. "Eastern Europe Reluctant to Sell," Petroleum Economist , Vol. 62, No. 9 (September 1995), p. 23. "Czech Refinery Deal, Long in Making, Finally Signed," Platt's Oilgram News , Vol. 73, No. 221 (November 16, 1995), p. 6.
  164. "Romania Invites Tenders for Oil and Gas Exploration," Financial Times (April 24, 1996), p. 37.
  165. "Eastern Europe Reluctant to Sell," Petroleum Economist (September 1995), p. 24.
  166. "U.S. Companies Poised for Crack at Romanian Privatization Drive," The Oil Daily, Vol. 45, No.62 (March 31, 1995), p. 1.
  167. "U.S. Companies Poised for Crack at Romanian Privatization Drive," The Oil Daily , Vol. 45, No.62 (March 31, 1995), p. 1.
  168. "Western Firms Pick up Pace on Retail Growth in Eastern Europe," The Oil Daily , Vol. 45, No.143 (July 28, 1995), p. 2.
  169. Energy Information Administration, Country Energy Profile , China (Washington, DC, February 1995), p. 17.
  170. 1995 production: Energy Information Administration, International Petroleum Statistics Report ,(Washington, DC, June 1996), p. 5.
  171. "China's Upstream Programs Advance Onshore and Offshore," Oil and Gas Journal (September 25, 1995) p. 32.
  172. "China's Upstream Programs Advance Onshore and Offshore," Oil and Gas Journal (September 25, 1995), p. 31.
  173. "China's Upstream Programs Advance Onshore and Offshore," Oil and Gas Journal (September 25, 1995), p. 31.
  174. CNOOC, ARCO and Kuwait's Santa Fe Co. are jointly developing the field.
  175. Energy Information Administration, Country Analysis Briefs: 1995 (January 1996).
  176. Energy Information Administration, International Energy Annual 1993 , DOE/EIA-0219(93)(Washington, DC, May 1995), p. 42.
  177. Energy Information Administration, Country Analysis Briefs: 1995 (Washington, DC, January 1996).
  178. "Demand for Refineries is High in China," The Wall Street Journal (December 26, 1995), p. A4.
  179. "Demand for Refineries is High in China," The Wall Street Journal (December 26, 1995), p. A4.
  180. "Worldwide Production," Oil and Gas Journal (December 25, 1995), p. 41.
  181. "Chinese Bureaucrats Draw the Line in South China Sea," Petroleum Economist (July 1995), p. 16.
  182. "Offshore Gas Developments Dominate Activity; Far East's Oil and Gas Industry; 50th Annual International Outlook Industry Overview," World Oil, Vol. 216, No. 8 (August 1995), p. 128ff.
  183. "Petro Vietnam's Ho Si Thoang Outlines Successes, Predicts Future Gas Industry," Offshore (November 1995), p. 39.
  184. "PetroVietnam's Ho Si Thoang outlines successes, Predicts Future Gas Industry," Offshore (November 1995), p. 39.
  185. "BHP Demand for Better Oil Field Terms is Rejected," Financial Times (May 10, 1996), p. P6.
  186. "Vietnam Set to Launch Gas Industry, Exports," The Reuter European Business Report (March 12, 1995).
  187. Energy Information Administration, Country Analysis Briefs: 1995 (Washington, DC, January 1990).
  188. "PetroVietnam's Ho Si Thoang Outlines Successes, Predicts Future Gas Industry," Offshore (November 1995), p. 39. Energy Information Administration, Country Analysis Briefs: 1995 (Washington, DC, January 1995).
  189. "PetroVietnam's Ho Si Thoang Outlines Successes, Predicts Future Gas Industry," Offshore (November 1995), p. 39.
  190. "Discoveries, Production Add Luster to Offshore Vietnam's Outlook," Oil and Gas Journal (July 17, 1995), p. 17.
  191. "Vietnam Names New Refinery Partners," Financial Times (January 11, 1996), p. P5.
  192. Energy Information Administration, Country Analysis Briefs: 1995 (Washington, DC, January 1996).
  193. "Vietnam struggles to refine policy on fuel," Financial Times (March 26, 1996), p. P5.
  194. "Cross-border Utility Investments: Translating Investment Risk into Global Advantage," Electricity Journal (June 1995), pp. 31-37.
  195. "Project Equity Can be the Ultimate Deal," Engineering News-Record, Vol. 236, No. 14 (April 8, 1996), p. 24ff.
  196. U.S. Department of Commerce, Bureau of Economic Analysis, Survey of Current Business (Washington, DC, August 1996), Table 18.
  197. Much of the details concerning the methods and progress of privatization for the countries discussed in this report, along with forecasts of regional electricity demand growth, came from: Energy Information Administration, International Energy Outlook 1995 (DOE/EIA-0484(95)) (Washington, DC, June 1995), pp. 73-87.
  198. Energy Information Administration, International Energy Outlook 1995 (DOE/EIA-0484(95)) (Washington, DC, May 1995), p. 74.
  199. Energy Information Administration, International Energy Outlook 1996 (DOE/EIA-0484(96)) (Washington, DC, May 1996), p. 85.
  200. Energy Information Administration, International Energy Annual 1993 (DOE/EIA-0219(93)) (Washington, DC, May 1995), Tables 2.6, 2.7, 2.8, and 6.1.
  201. Slaughter, Andrew, "Power Generation Key to Global Natural Gas Market," Electrical World (November 1994), p. 61.
  202. "The Price Report; UK Electricity Industry," Petroleum Times (May 5, 1995), p. 1.
  203. "Sale of the Century," The Wall Street Journal (October 2, 1995), p. R17.
  204. Ironically at the same time, two consortia led by National Power and Southern Company competed for power projects in Pakistan. Although National Power won the bid, if Southern Co. succeeds in its merger attempt, essentially Southern wins in Pakistan as well.
  205. "Britain to Privatize Nuclear Power Company," The New York Times (May 29, 1996), p. D4.
  206. "Southern Water of Britain Accepts Offer from 2d bidder," The New York Times (May 30, 1996), p. D5.
  207. "Southern Water of Britain Accepts Offer from 2d bidder," The New York Times (May 30, 1996), p. D5.
  208. "The Busiest Merger Lab: The UK Electricity Sector," Electrical World (July 1996), p. 29.
  209. "Power Play Gets Rough," The Daily Telegraph (April 20, 1996), p. 2.
  210. Enron Corp 1995, Annual Report to Shareholders and Customers , p. 1.
  211. "NI Customers Empowered," Financial Times (February 9, 1996).
  212. Energy Information Administration, Office of Energy Markets and End Use, International Data Base, June 1994.
  213. Energy Information Administration, Office of Energy Markets and End Use, International Data Base, June 1994.
  214. Energy Information Administration, Office of Energy Markets and End Use, International Data Base, June 1994.
  215. "Players Line up in Scramble for U.K. Natural Gas Markets," Oil and Gas Journal (July 24, 1995), p. 12.
  216. "Players Line up in Scramble for U.K. Natural Gas Markets," Oil and Gas Journal (July 24, 1995), p. 12.
  217. WEFA Energy's European Gas Service, The Public Distribution Sector, A Special Study on Gas Sales to the High Value Domestic and Commercial Sectors (January 1996), p. 7.3.
  218. Calor is a major marketer of liquefied petroleum gases in the United Kingdom.
  219. "The Break-up of British Gas: Setting up Defense of the Domestic Realm--British Gas Energy," Financial Times (February 7, 1996), p. 22.
  220. "The Break-up of British Gas: Setting up Defense of the Domestic Realm--British Gas Energy," Financial Times (February 7, 1996), p. 22.
  221. British Gas, Annual Report and Accounts 1995 , pp. 3-18.
  222. "Pressure Rises As British Gas Puts Government in the Dock," The Times (July 26, 1996).
  223. "Norwegian Utility Buys Shares in Swedish Nuclear Operator," Nuclear Week (April 18, 1996), p. 8.
  224. "StatKraft Snaps up 8% Sydkraft Stake in Nordic Consolidation," European Energy Report (April 12, 1996).
  225. "Sweden Industry: Foreign Interest in Energy Firms Heats Up," EIU ViewsWire (May 23, 1996).
  226. "EdF Preussen Elecktra and IVO Swoop in Raids on Swedish Utility," European Energy Report (April 26, 1996).
  227. "Sweden Industry: Foreign Interest in Energy Firms Heats Up," EIU ViewsWire (May 23, 1996).
  228. "World Power Service," Western European Power Report , WEFA Energy, p. 14.3.
  229. PowerGen PLC, Report and Accounts 1995 , p. 10.
  230. International Association for Energy Economists Newsletter (Winter 1996), p. 26.
  231. "International Privatization: Weighing the Risk of Build versus Buy," Electrical World (November 1995), p. 25.
  232. "Power & Energy: Hungary," EIU Business Eastern Europe, (January 1, 1996).
  233. Bennett, Neil, "PowerGen goes to Hungary," The Sunday Telegraph Limited (June 30, 1996), p. 2ff.
  234. "European Market Transition," Independent Energy (December, 1995), p. 47.
  235. "Mixed Progress for Polish Power as World Bank Arrives," East European Energy Report (May 22, 1995).
  236. Holdstock, Graham, "Australia's Painful Transition," International Herald Tribune (September 25, 1995).
  237. "Oregon-based PacifiCorp to Buy Australian Utility," Associated Press (November 16, 1995).
  238. West, Gary, "Australia's Biggest Asset Sell-Off Powers On," The Reuter Asia-Pacific Business Report (November 19, 1995).
  239. Utilicorp's ownership interest was $258 million. See "Utilicorp Says Earnings of Australian Electricity Operations Exceed Expectations," Business Wire (May 15, 1996).
  240. "T.U. Beats out PG&E and PacifiCorp for Eastern Energy of Australia," Electric Utility Week (November 13, 1995), p. 15.
  241. "PacifiCorp to Purchase Australian Distributor Powercor for $1.6 billion," Electric Utility Week (November 20, 1995), p. 15.
  242. Fortnightly (May 1, 1996), p. 7.
  243. "Australian Privatization: Shaken But Not Stirred," Power Asia (April 1, 1996).
  244. "PowerGen Beats U.S. Utility Affiliates Vying for 1,450 MW Plant in Australia," Electric Utility Week (March 11, 1996), p. 15..
  245. "Victoria's Powercor Falls into American Utility Hands" Power Asia (November 27, 1995).
  246. "NSP Unit, Transfield Sign 180-MW Power Sales Pact in Australia," Electric Utility Week (January 8, 1996), p. 18.
  247. The San Diego Union-Tribune (February 25, 1995), p. C-1.
  248. These investor companies are: Cogentrix, Bechtel, AES Corp, CMS Energy Corp, Enron, Enserch, General Electric Company, GVK USA, Houston Industrial, Solarex, and Spectrum Corporation.
  249. CMS Energy Corporation, 1995 Form 10-K , p. 15.
  250. U.S. Department of Energy, Office of Oil and Natural Gas Policy.
  251. U.S. Department of Energy, Office of Oil and Natural Gas Policy.
  252. U.S. Department of Energy, Office of Oil and Natural Gas Policy.
  253. U.S. Department of Energy, Office of Oil and Natural Gas Policy.
  254. "Wattage to India," The Washington Post (February 5, 1996), p. A12.
  255. "Business Brightens for Solar Power Manufacturer Solarex," Associated Press (April 23, 1996).
  256. Energy Information Administration, Country Energy Profile, Pakistan (September 1994)
  257. Energy Information Administration, Country Energy Profile, Pakistan (September 1994).
  258. Energy Information Administration, Country Energy Profile, Pakistan (September 1994).
  259. Uch Project on a Knife Edge," Power Asia (October 30, 1995).
  260. AES Corporation, 1995 Annual Report , p. 3.
  261. Enron Corp, 1995 Annual Report , p. 26.
  262. "Coastal Subsidiary's Joint-Venture Opens Power Plant in China," Business Wire (December 12, 1995).
  263. "Enserch, Two Partners Sign Deal for 36-MW Power Plant in China," Independent Power Report (March 10, 1995), p. 12.
  264. "IES Makes Investment in New Zealand Companies," PR Newswire (October 3, 1995).
  265. Utilicorp, 1995 Annual Report, p. 43.
  266. WEFA Energy, World Power Service, Far East Report , p. 4.6.
  267. WEFA Energy, World Power Service, Far East Report, p. 4.7.
  268. U.S. Department of Energy, Office of Oil and Natural Gas Policy.
  269. "Eximbank and Opic Fund Phillippines Geothermal Energy Plant," International Trade Finance (August 26, 1994).
  270. "Globalization of the Electric Power Industry: Risks and Opportunities," Electrical World (January 1995), p. 40.
  271. "ABB, U.S.'s CMS Sign $1.6 Billion Morocco Electricity Franchise Deal," AFX News (April 26, 1996).
  272. "Globalization of the Electric Power Industry: Risks and Opportunities," Electrical World (January 1995), p. 40.
  273. This sale is expected to generate $1.8 billion. See "Argentina: Yacyreta Privatization Plan Causes Controversy." Inter Press Service (January 11, 1996).
  274. Javetski, John, "International Privatization: Weighing the Risk of Build v. Buy," Electrical World , Vol. 209 (November 1995), pp. 25ff.
  275. Friedland, Jonathan, "New Jersey Has a Bright Idea in Bolivia, "The Wall Street Journal (July 27, 1995), p. A8.
  276. Friedland, Jonathan, "Plans by U.S. Utilities to Enter Chile Roil Power Sector With Fears of Glut," The Wall Street Journal (October 18, 1995), p. A16.
  277. WEFA Group, Latin America Monthly Monitor (January 1996), p. 30.
  278. Energy Information Administration, International Energy Outlook 1995 (DOE/EIA-0484(95)) (Washington, DC, May 1995), p. 74.
  279. Energy Information Administration, International Energy Outlook 1996 (DOE/EIA-0484(96)) (Washington, DC, May 1996), p. 86.
  280. Energy Information Administration, International Energy Outlook 1996 (DOE/EIA-0484(96)) (Washington, DC, May 1996), p. 80.
  281. Javetski, John, "International Privatization: Weighing the Risk of Build vs Buy," Electrical World, Vol. 209 (November 1995), p. 209.
  282. Energy Information Administration, International Energy Outlook 1996 (DOE/EIA-0484(96)) (Washington, DC, May 1996), p. 86.
  283. Petroleum Economist (June 1995), p. 125.
  284. Energy Information Administration, International Energy Annual 1993, DOE/EIA-0219(93) (Washington, DC, May 1995), p. viii.
  285. The Mining Journal (July 1994), p. 105.
  286. Energy Information Administration, International Energy Outlook 1996, DOE/EIA-0484(96) (Washington, DC, May 1996), p. 52.
  287. "Buy Low: Foreigners have been buyers of U.S. coal properties. What do the buyers know that the sellers don't?" Forbes (March 15, 1993), p. 50ff.
  288. China is both the leading producer and consumer of world coal.
  289. Energy Information Administration, Form EIA-28, Financial Reporting System .
  290. "Conference Concludes European Coal Subsidies Will End," Power Europe (December 2, 1994).
  291. "Power to the People: Cracking Europe's Electric Cartels," The Wall Street Journal (December 22, 1995), p. A5.
  292. OECD/IEA, Oil and Gas Supply Outlook, 1995 .
  293. Suttill, Keith R., "Coal in Europe ," Coal (March 1995), p. 20.
  294. Chadwick, John, "World Coal," Mining Magazine (September 1995), p. 146ff.
  295. Coal Voice (June 1993), p. 1.
  296. Energy Information Administration, Country Energy Profiles, South Africa (Washington DC, August 1995), p. .
  297. Energy Information Administration, Country Energy Profiles, South Africa (Washington DC, August 1995), p. .
  298. The Economist (December 23, 1995- January 5, 1996), p. 126.
  299. Energy Information Administration, Country Analysis Brief s, (January 1996).
  300. Energy Information Administration, Country Analysis Briefs , (January 1996).
  301. Tse, Pui-Kwan, "China,"Mining Annual Review (July 1995), p. 108ff.
  302. "China Seeks Foreign Help to Exploit Vast Coal Reserves," Asian Economic News (October 9, 1995).
  303. Amoco Corporation, Annual Report 1995 , p. 15 and ARCO Coal Company, News Release (June 21, 1996).
  304. Although Brazil is the second largest producer of coal, it is a net importer, whereas almost all of Venezuela's coal production is directed towards export markets.
  305. Energy Information Administration,Energy Analysis Brief.
  306. Kendall, Sarita, "Survey of Colombia," Financial Times (October 9, 1995), p. III.