Vitol Inc. CEO Russell Hardy said Friday the Swiss commodities giant expects liquefied natural gas (LNG) to account for a growing share of revenue, as delivered volumes rose 35% to 10.5 million metric tons (mmt) in 2019.
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World oil demand in the first quarter is forecast to decline by the largest volume in history, exceeding the fall-off during the financial crisis that began in late 2008.
BP plc has appointed John Minge as chairman and president of BP America Inc., the producer’s chief U.S. representative. Former chief Lamar McKay is to lead BP’s upstream business. BP’s capital investments in the United States over the past five years exceed $52 billion, more than any other company and more than BP invests in any other country. Minge, who takes over the Houston-based U.S. operations on Feb. 15, has led BP Alaska since January 2009. In 2012, BP Alaska achieved the lowest recordable incident rate in its history, with a 50% reduction from 2009. Minge, who began his BP career in the Gulf of Mexico as a drilling engineer, formerly was president of BP Indonesia, chief of BP’s Asia Pacific Unit and president of exploration and production for Vietnam and China. BP also has named Bob Fryar, now executive vice president for upstream production, as executive vice president for Safety and Operational Risk. Mark Bly, who has headed safety functions since March 2008, plans to retire.