Charge

BP plc has appointed Fergus MacLeod as the new strategy chief. MacLeod, a former Deutsche Bank oil analyst, has been in charge of BP’s investor relations unit since 2002 and he will continue to run that unit. Ian Smale, 51, who has been BP’s head of strategy for the past three years, has retired from BP after 30 years. MacLeod will report directly to CEO Bob Dudley. Because MacLeod formerly was an energy analyst, he is expected to be attuned to shareholder concerns as the oil major attempts to revive investor confidence. Dudley said in July that stabilizing the company was his top priority (see Daily GPI, July 27).

Lucien Bouchard, the popular former premier of Quebec, has been tapped to chair the Quebec Oil and Gas Association (QOGA), which is leading the charge to expand exploration in the province’s Utica Shale basin. Bouchard, who was Quebec’s premier from 1996 to 2001, previously served as Canada’s Minister of the Environment and once was Head of the Official Opposition in the House of Commons. He will replace Andre Caille on Feb. 21 at QOGA’s general assembly. Quebec’s drilling industry is much smaller than its provincial counterparts; QOGA was established less than two years ago in April 2009.

Lucien Bouchard, the popular former premier of Quebec, has been tapped to chair the Quebec Oil and Gas Association (QOGA), which is leading the charge to expand exploration in the province’s Utica Shale basin.

A decision by Encana Corp. to pull out of an investor conference this week ramped up rumors that the natural gas giant may be close to a joint venture agreement with China National Petroleum Corp. (CNPC) to develop its vast British Columbia (BC) shale holdings.

FERC on Thursday established a new inflationary adjustment, or price index formula, that will increase the ceiling levels on rates for pipelines carrying crude oil and petroleum products, including natural gas liquids (RM10-25).

With less than two weeks remaining until an election that could shift the balance of power in Harrisburg, Pennsylvania Gov. Ed Rendell and the state’s General Assembly remain deadlocked over a proposed natural gas severance tax.

Racked by larger expenses than during last year’s quarter and an $11 million after-tax impairment charge related to its investment in the National Commodity and Derivatives Exchange (NCDEX) of India, IntercontinentalExchange Inc. (ICE), the Atlanta-based operator of regulated global exchanges, clearing houses and over-the-counter (OTC) markets, reported Tuesday a 15% drop in net income. The company recorded 2Q2009 net income of $72.1 million (97 cents/share) down from $84.9 million ($1.19) during 2Q2008.

Racked by larger expenses than during last year’s quarter and an $11 million after-tax impairment charge related to its investment in the National Commodity and Derivatives Exchange (NCDEX) of India, IntercontinentalExchange Inc. (ICE), the Atlanta-based operator of regulated global exchanges, clearing houses and over-the-counter (OTC) markets, reported Tuesday a 15% drop in net income. The company recorded 2Q2009 net income of $72.1 million (97 cents/share) down from $84.9 million ($1.19) during 2Q2008.

Dismal gas prices and a charge for Rockies basis hedges took their toll on Questar Corp. in the first quarter, but CEO Keith Rattie said the company is “weathering the storm” as he looks to a Nymex forward curve that “remains in steep contango” and growing production that will be worth a lot more as the economy and gas market recover.