Restructure

As the first of a two-part move to restructure the RBS Sempra Commodities joint venture trading business, the partners announced last Tuesday that they had agreed to sell their European and Asian operations to JPMorgan Chase & Co. for an expected $1.7 billion. The sale of the foreign holdings is a prelude to the disposition of the other major part of the business, North American natural gas and power trading.

As the first of a two-part move to restructure the RBS Sempra Commodities joint venture trading business, the partners announced Tuesday that they agreed to sell their European and Asian operations to JPMorgan Chase & Co. for an expected $1.7 billion. The sale of the foreign holdings is a prelude to the disposition of the other major part of the business, North American natural gas and power trading.

As the first of a two-part move to restructure the RBS Sempra Commodities joint venture trading business, the partners announced Tuesday that they agreed to sell their European and Asian operations to JPMorgan Chase & Co. for an expected $1.7 billion. The sale of the foreign holdings is a prelude to the disposition of the other major part of the business, North American natural gas and power trading.

Calgary-based producer MGM Energy Corp. has struck an agreement with Chevron Canada Ltd. and BP Canada to restructure a farmout agreement, allowing it to delay drilling and seismic activity due to repeated holdups in progress on the Mackenzie Gas Project, MGM said last Tuesday.

Calgary-based producer MGM Energy Corp. has struck an agreement with Chevron Canada Ltd. and BP Canada to restructure a farmout agreement, allowing it to delay drilling and seismic activity due to repeated holdups in progress on the Mackenzie Gas Project, MGM said Tuesday.

The financial crisis has slammed into the energy sector and forced the industry to reconsider some of its long-term goals and restructure some of its operations, a BP Canada Energy Co. executive told a Toronto audience Thursday.

The financial crisis has slammed into the energy sector and forced the industry to reconsider some of its long-term goals and restructure some of its operations, a BP Canada Energy Co. executive told a Toronto audience Thursday.

El Paso Corp.’s annual financial analyst meeting last week did nothing to quell talk that the company may restructure and split its bread-and-butter natural gas pipeline business from the exploration and production (E&P) unit to increase shareholder value. In fact, the CEO indicated it is a distinct possibility.

El Paso Corp.’s annual financial analyst meeting Wednesday did nothing to quell talk that the company may restructure its business to split its bread-and-butter natural gas pipeline business from the exploration and production (E&P) unit to increase shareholder value. In fact, the CEO indicated it is a distinct possibility.