Brian Gilvary, who has worked at BP plc for 25 years, has been named CFO effective Jan. 1 and will join the board of directors. Current CFO Byron Grote, 63, will become executive vice president, corporate business activities. Gilvary, 49, has been deputy group CFO and head of finance for BP for nearly two years. He previously was CEO of BP’s commodity trading arm, Integrated Supply and Trading (IST). He also has been a board member of TNK-BP since December, having previously also served on the board from 2003 to 2005. Grote, 63, has been CFO since 2002. In his new role he will have responsibility for BP’s IST, alternative energy and shipping businesses as well as the company’s technology and remediation management activities.
Articles from Worked
An estimate of undiscovered, technically recoverable natural gas and natural gas liquids (NGL) contained in the Marcellus Shale issued this week by the U.S. Geological Survey (USGS) will be included in the next Energy Information Administration’s (EIA) Annual Energy Outlook (AEO), according to EIA.
Approximately 84 Tcf of undiscovered, technically recoverable natural gas and 3.4 billion bbl of undiscovered, technically recoverable natural gas liquids (NGL) are contained in the Marcellus Shale, according to a new assessment by the U.S. Geological Survey (USGS).
June natural gas prices worked lower amid a frenzy of selling in other petroleum markets. Natural gas traders see a pervasive interest by funds and managed accounts in pursuing the short side of the market, but they caution that any surprises could send prices sharply higher.
Chesapeake Energy Corp. voluntarily suspended all completion operations in Pennsylvania last Thursday as response crews worked to contain a Chesapeake well blowout in the Marcellus Shale.
April natural gas futures worked lower Tuesday as traders continued to focus on expected production levels rather than near-term weather or storage. Near-term weather forecasts signal the end of what has been a very cold heating season, and short-term analysts have a $3.50 target in their sights. At the close April futures were down 6.3 cents to $3.864 and May lost 6.0 cents to $3.924. April crude oil declined 42 cents to $105.02/bbl.
During a state Senate confirmation hearing, the acting secretary of the Pennsylvania Department of Environmental Protection (DEP) promised to let “sound science” guide his decisions about Marcellus Shale activity in the state.
If the natural gas industry can grab even 10% of the transportation fuel and electric generation sectors markets as an outlet for burgeoning production coming out of shale plays, it could be on the verge of a golden era, according to Range Resources Corp. CEO John Pinkerton.
Sen. Lisa Murkowski (R-AK) has worked out an agreement with Senate leadership to hold a vote on her “disapproval resolution” on June 10, a spokesman for the senator said. The vote will be on whether the Environmental Protection Agency (EPA) should be allowed to regulate greenhouse gas (GHG) emissions under the Clean Air Act (CAA).