Restructuring

When it comes to royalties, less is more as far as producers are concerned. But a proposed restructuring of Alberta’s royalty scheme announced earlier this month might not be enough to stem rapid gas production declines in the province, analysts at Barclays Capital warned recently.

When it comes to royalties, less is more as far as producers are concerned. But a proposed restructuring of Alberta’s royalty scheme announced earlier this month might not be enough to stem rapid gas production declines in the province, analysts at Barclays Capital warned recently.

Devon Energy Corp., which last year began restructuring its operations to focus on North American onshore operations, Thursday agreed to sell all of its deepwater Gulf of Mexico (GOM), Brazil and Azerbaijan assets to London’s BP plc for $7 billion.

Devon Energy Corp., which last year began restructuring its operations to focus on North American onshore operations, Thursday agreed to sell all of its deepwater Gulf of Mexico (GOM), Brazil and Azerbaijan assets to London’s BP plc for $7 billion.

Devon Energy Corp., which last year began restructuring its operations to focus on North American onshore operations, Thursday agreed to sell all of its deepwater Gulf of Mexico (GOM), Brazil and Azerbaijan assets to London’s BP plc for $7 billion.

Chevron Corp. said Tuesday it will reduce its workforce by 2,000 this year and cut the staff further in 2011 as part of an announced restructuring that will focus more on upstream operations and less on refining and marketing.

Chevron Corp. said Tuesday it will reduce its workforce by 2,000 this year and cut the staff further in 2011 as part of an announced restructuring that will focus more on upstream operations and less on refining and marketing.

Royal Dutch Shell plc’s incoming chief executive Wednesday announced a restructuring intended to streamline operations, cut overhead and speed decision-making. The changes are expected to affect thousands of the company’s 102,000 employees. The move follows project delays and cost overruns that have angered investors.

Restructuring energy use in the United States to drastically cut greenhouse gas emissions through cap-and-trade systems or taxes on carbon dioxide will come at a high cost for the nation’s citizens, according to an analysis, “The Cost of Climate Regulation for American Households,” by two Clemson University economists.