U.S. INTERSTATE PIPELINES MAKE PAINFUL ADJUSTMENTS IN 1991
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Federally regulated natural gas and liquids pipeline companies in the U.S. continued to adjust in 1991 to new market and regulatory realities brought about by federal mandate and continuing sour economic conditions. These adjustments were evident in the revenue and income figures for companies in the two industry segments. Both sets of figures significantly declined as reported in annual reports for last year to the U. S. Federal energy Regulatory Commission (FERC). One-time charges by several major natural-gas pipelines in 1991 resulted in declines of more than 75% for all companies in net incomes and 14% in operating revenues. Declines in incomes occurred among oil pipelines, as well, but were not nearly so drastic. Natural-gas pipelines also continued shifting the collective focus of their operations to the business of transportation and away from sales. Volumes of gas moved for others continued increasing; volumes sold continued their declines. These datas along with others from annual reports filed with the FERC are tracked in this annual Oil and Gas Journal Pipeline Economics Report. Additionally, more information is provided in this year's report on how much natural-gas pipelines actually spent to build segments compared to what had been estimated at the time themore » projects were set before the FERC for approval.« less