New Mexico Gov. Bill Richardson heads the slate of 2003-2004 Interstate Oil and Gas Compact Commission (IOGCC) officers. Richardson, a former United Nations ambassador and U.S. secretary of energy during the Clinton Administration, was chosen at the IOGCC’s midyear meeting in Williamsburg, VA. He will succeed the current chairman, North Dakota Gov. John Hoeven, at the IOGCC’s annual meeting in Reno in October. Donald L. Mason of Ohio was selected as vice chairman and Randy Ruedrich of Alaska was selected as second vice chairman. Mason, a member of the Public Utilities Commission of Ohio, is the current second vice chairman of the IOGCC. Ruedrich is a member of the Alaska Oil and Gas Conservation Commission. Alaska Gov. Frank Murkowski was named chairman-elect, and will serve as chairman in 2004-2005 along with Ruedrich as vice chairman and Don Likwartz of Wyoming as second vice chairman. Likwartz is state oil and gas supervisor for Wyoming. Wyoming Gov. Dave Freudenthal was tabbed to serve as chairman in 2005-2006. The IOGCC, founded in 1935 to ensure the efficient recovery of domestic petroleum resources while protecting health, safety and the environment, represents the governors of 30 oil and gas producing states. Seven states are associate members, and the IOGCC international program has seven affiliates. For more information on the IOGCC, visit its web site at www.iogcc.state.ok.us.
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Committee of 31 Companies Issue First Slate of Best Industry Practices
The Committee of Chief Risk Officers (CCRO), a coalition of 31 energy companies, issued a set of best practices for managing risk and recommended that all companies with significant merchant energy activities adopt the set, which covers best practices in the governance, valuation, credit risk management and disclosure aspects of merchant energy operations.
Committee of 31 Companies Issue First Slate of Best Industry Practices
The Committee of Chief Risk Officers (CCRO), a coalition of 31 energy companies, issued a set of best practices for managing risk and recommended that all companies with significant merchant energy activities adopt the set, which covers best practices in the governance, valuation, credit risk management and disclosure aspects of merchant energy operations.
Amid Online Trading Shake-Up, Nymex Adds to New Offering
Nymex announced last week an expanded slate of natural gas products and services, including electronically traded Henry Hub swap contracts, large order execution (LOX) trading, an expanded listing of contracts (36 to 72 months), and a temporary program that will allow exchange of over-the-counter options positions for Nymex options positions.
Amid Online Trading Shake-Up, Nymex Adds to Its Offerings
Nymex announced last week an expanded slate of natural gas products and services, including electronically traded Henry Hub swap contracts, large order execution (LOX) trading, an expanded listing of contracts (out to 72 months from 36), and a temporary program that will allow exchange of over-the-counter options positions for Nymex options positions.
Voyageur Sponsors Seek Clean Slate
In a change of strategy earlier this week, TransCanada PipeLinesLtd. and Nicor Inc. notified FERC that they were withdrawing theirapplication for their original Viking Voyageur pipeline project toclear the path for a new application on a scaled-down version ofthe project that they intend to file early this fall.
