Former BP plc CEO Tony Hayward, as well as former exploration chief Andy Inglis, have scored prominent positions in two energy firms. Vallares plc, an energy fund vehicle backed by Hayward and a group of high-profile investors, raised US$2.2 billion in an initial public offering, which is one-third more than the original target. Vallares, to be based in London, is sponsored by Hayward and financiers Nathaniel Rothschild, Tom Daniel and Julian Metherell, who is the former UK CEO for Goldman Sachs Group Inc. The company plans to buy an emerging-market energy firm or an energy asset with an enterprise value of US$4.85-12.9 billion, the sponsors said. Inglis has been tapped to run Petrofac plc’s new integrated energy services (IES) division.
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Former BP Execs Secure Top Spots in New Energy Endeavors
Former BP plc CEO Tony Hayward, as well as former exploration chief Andy Inglis, have scored prominent positions in two energy firms.
June 20, 2011
CFTC: Traders Manipulated Oil Prices in 2008
The U.S. Commodity Futures Trading Commission (CFTC) announced last Tuesday that it had filed suit in New York against two traders and three firms, alleging that in 2008 they manipulated crude oil futures prices in a trading scheme that bagged more than $50 million.
May 30, 2011
CFTC Accuses Traders of Manipulating Oil Prices in 2008
The U.S. Commodity Futures Trading Commission (CFTC) announced Tuesday that it had filed suit in New York against two traders and three firms, alleging that in 2008 they manipulated crude oil futures prices in a trading scheme that bagged more than $50 million.
May 26, 2011
EPA Vows to Work with States to Oversee Fracking
An Environmental Protection Agency (EPA) official told a Senate panel earlier this week that the agency is committed to cooperating with states to oversee the practice of hydraulic fracturing (fracking).
April 18, 2011
CFTC Asked to Refine Definitions of Swap Dealers, Swap Participants
Natural gas utilities, commercial firms and state regulators have called on the Commodity Futures Trading Commission (CFTC) to refine its proposed definitions for swap dealers and major swap participants, which — unlike commodity end-users — will be subject to mandatory clearing of swaps under the agency’s proposed reforms (see NGI, Dec. 6, 2010).
February 28, 2011
CFTC Asked to Refine Definitions of Swap Dealers, Swap Participants
Natural gas utilities, commercial firms and state regulators have called on the Commodity Futures Trading Commission (CFTC) to refine its proposed definitions for swap dealers and major swap participants, which — unlike commodity end-users — will be subject to mandatory clearing of swaps under the agency’s proposed reforms.
February 24, 2011
New Gulf Moratorium Elicits Torrent of Criticism
Producers, oil service firms and end-users slammed the new moratorium on deepwater drilling in the Gulf of Mexico (GOM) that the Interior Department issued on last Monday, saying it was no different than the original moratorium despite hints from Interior Secretary Ken Salazar that he was considering narrowing the scope of the ban.
July 19, 2010
New Gulf Moratorium Elicits Torrent of Criticism
Producers, oil service firms and end-users slammed the new moratorium on deepwater drilling in the Gulf of Mexico that the Interior Department issued on Monday, saying it was no different than the original moratorium despite hints from Interior Secretary Ken Salazar that he was considering narrowing the scope of the ban.
July 14, 2010
Haynesville Development Spurs Gathering Growth
Natural gas gathering firms are lining up with expansions and new facilities to meet demand from producers in the fast-growing Haynesville Shale of Louisiana and East Texas.
May 3, 2010
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