BP plc has chosen a new chairman whose expertise is in technology — as opposed to someone schooled in oil and natural gas — to take the helm when Peter Sutherland steps down at the end of this year. Carl-Henric Svanberg, now chairman and CEO of Swedish telecommunications company Ericsson, will join the BP board as chairman-designate and become a nonexecutive director on Sept. 1. He officially will step down at year-end from Ericsson and succeed Sutherland as chairman of BP on Jan. 1. Based in London, Svanberg, 57, is expected to devote most of his time to BP business. “Following such a distinguished predecessor is quite a challenge but I’m hugely excited about joining the energy industry, which is so much at the heart of the global economy. I look forward to it with relish,” Svanberg said. Sutherland, 63, has been chairman of BP since 1997. He was scheduled to step down in April, but earlier this year he agreed to remain in his post because of the difficult market conditions that had delayed the search for a replacement. BP CEO Tony Hayward said Sutherland “will be a hard act to follow. But I am sure Carl-Henric will be a worthy successor. He is a businessman of international stature who is recognized for his transformation of Ericsson. Our shared views on many aspects of global business give me great confidence that we will work very effectively together on the next phase of BP’s progress.”
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BP Chooses Tech-Savvy Chief to Take the Helm
BP plc has chosen a new chairman whose expertise is in technology — as opposed to someone schooled in oil and natural gas — to take the helm when Peter Sutherland steps down, the London-based energy giant said Thursday.
ExxonMobil CEO: Energy Independence ‘Not Realistic’
Energy independence is “not realistic for the United States or almost any other country,” and it may not be the best strategy to pursue, ExxonMobil CEO Rex Tillerson said this week.
People
John F. Riordan, 72, twice chairman of the Interstate Natural Gas Association of America and past president and CEO of GTI, the Gas Technology Institute, died Thursday. Riordan, who died following a brief illness, had been a board member for National Fuel Gas Co. (NFG) since 2000 and also had served on Nicor Inc.’s board. Riordan’s 40-year career in the energy industry included helming GTI from April 2000 to December 2005. He also was past president and CEO of MidCon Corp. and president of the commodity chemical business at Occidental Petroleum Corp. (Oxy). Riordan directed Oxy’s sale of MidCon to KN Energy Inc. and he served as vice chairman of KN Energy from February 1998 to February 1999. In addition, Riordan was formerly president of the natural gas liquids business at Cities Service Co. “Our sympathies are with John’s family at this sad time,” said NFG CEO David F. Smith. “He was a most valuable member of our board of directors and his leadership and keen insight strongly contributed to the success and growth the company has achieved. He will be deeply missed.”
People
John F. Riordan, 72, twice chairman of the Interstate Natural Gas Association of America and past president and CEO of GTI, the Gas Technology Institute, died Thursday. Riordan, who died following a brief illness, had been a board member for National Fuel Gas Co. (NFG) since 2000 and also had served on Nicor Inc.’s board. Riordan’s 40-year career in the energy industry included helming GTI from April 2000 to December 2005. He also was past president and CEO of MidCon Corp. and president of the commodity chemical business at Occidental Petroleum Corp. (Oxy). Riordan directed Oxy’s sale of MidCon to KN Energy Inc. and he served as vice chairman of KN Energy from February 1998 to February 1999. In addition, Riordan was formerly president of the natural gas liquids business at Cities Service Co. “Our sympathies are with John’s family at this sad time,” said NFG CEO David F. Smith. “He was a most valuable member of our board of directors and his leadership and keen insight strongly contributed to the success and growth the company has achieved. He will be deeply missed.”
NARUC Resolves to Examine Effect of High Gas Prices
The National Association of Regulatory Utility Commissioners (NARUC) issued several resolutions addressing natural gas prices, climate change technology and electric industry workforce readiness during its summer meetings in Portland, OR, which concluded last Wednesday.
NARUC Resolves to Examine Effect of High Gas Prices
The National Association of Regulatory Utility Commissioners (NARUC) issued several resolutions addressing natural gas prices, climate change technology and electric industry workforce readiness during its summer meeting in Portland, OR, which concluded Wednesday.
Coal Carbon Capture + Oil EOR = Marriage Waiting to Happen
While there are still many regulatory and technology hurdles, the seeming inevitable union of clean coal carbon capture and storage in the power industry with carbon dioxide-hungry enhanced oil recovery (EOR) seems more likely to take place in the current world of $100/bbl oil and a push to lessen the future impact of global climate change. Ultimately how and how much value is placed on carbon dioxide (CO2) will have a lot to say about the impending marriage.
Helix E&P Unit Reports Second Discovery in GOM Garden Banks Block
Helix Energy Solution’s exploration and production (E&P) subsidiary Energy Resource Technology (ERT) has reported the second discovery in less than six months in the deepwater Garden Banks Block 506, which is located about 145 miles offshore Galveston, TX, in the Gulf of Mexico (GOM) in 2,700 feet of water.
Lessons of 2005 Hurricane Season Still Being Digested
Despite a dearth of hurricane activity in 2006, speakers on a storm preparedness panel at the Offshore Technology Conference (OTC) in Houston last week still had plenty to talk about. After all, the industry remains on the mend from the momentous 2005 hurricane season and digesting the lessons learned from the one-two punch of hurricanes Katrina and Rita.
