Lazard hires Miller from Citigroup in its energy investment banking drive, sources claim
People familiar with the matter said that Lazard hired Citigroup veteran investment banker Chris Miller to lead its dealmaking efforts within the energy sector. Miller, who was based in Houston, and had the title of vice-chairman of energy investment banking for Citigroup, recently resigned his position with the Wall Street bank and will begin his new role at Lazard early in 2025, after a period gardening leave, according to the sources.
Jorge Montero is appointed Minister of Mines and Energy by Peru
According to a resolution of the government published on Sunday after his predecessor had been removed by the congress, Peru has appointed Jorge Montero its new Minister of Mines and Energy. The former minister Romulo Manyo was removed from office on Tuesday, as protesters from small scale miners camped in front of the Peruvian parliament's building at Lima and periodically halted the traffic throughout the South.
Argentina's Pampa Energia joins LNG export project
Pampa Energia, a subsidiary of Argentina's Pampa Energia, announced on Friday that it had joined Pan American Energy (PAE) and Golar in a joint project to export liquefied gas from the South American country. Pampa Energia announced that it will own a 20% stake of Southern Energy, a joint venture between Pan American Energy and Golar to produce LNG. The project will…
Chris Wright, CEO of the oil industry, is appointed Energy Secretary by Trump
Donald Trump, the President-elect, announced on Saturday that Chris Wright, an oil and gas executive who is a staunch supporter of fossil fuels, will be his choice to lead the Department of Energy. Wright is the founder of Liberty Energy in Denver, a firm that provides oilfield services. He will likely support Trump's plans to increase oil and gas production and seek ways to increase electricity generation, which is on the rise for the first decade.
Biogas credit slump tied to proposed waiver of supply mandates
Traders and market participants report that the prices for credits for cellulosic production of biofuels fell to their lowest level in more than a year after the U.S. Environmental Protection Agency proposed a partial exemption to its supply mandates by 2024. The proposal was submitted to the government for approval on Tuesday. It follows a petition filed by American Fuel & Petrochemicals Manufacturers, a lobby group for industry, on Nov.
'This could be the one that gets me,' Says Oilfield Service Veteran
Tim Harris was preparing to relocate for an assignment with energy services firm Halliburton Co for the fifth time in 15 years when his career came to a halt.A third-generation employee, Harris rose through the ranks at the top shale-oil services provider to oversee oilfield crews. He sailed through several busts, with the exception of a 9-month break in 2016.But April's historic price crash, which has left U.S.
Shell's New Energies Boss Gainsborough to Step Down
Royal Dutch Shell's head of New Energies Mark Gainsborough announced on Thursday he was stepping down after setting up and leading a rapid expansion of the company's renewables and low-carbon business over the past four years.Gainsborough will be replaced by Elisabeth Brinton on April 1, the 39-year Shell veteran said in a post on LinkedIn. He will leave the company at the end of the year.Brinton…
Total CFO to Retire this Year
Total Chief Financial Officer Patrick de La Chevardiere is to retire by the end of this year, a spokesperson for the French oil and gas major said on Friday.De la Chevardiere has been Total CFO for the last 11 years and has been with the firm for 37 years, his LinkedIn profile showed.Total's spokesperson declined to comment on a report in French business magazine Challenges that he would be succeeded by Jean-Pierre Sbraire, currently deputy CFO at the grou
Petronas Sets Up Team for Renewables Push
Malaysian state-owned oil and gas firm Petroliam Nasional Berhad, or Petronas, has set up a new business within the group to make a push into renewable energy, the head of the new venture said on Tuesday.Petronas has expressed interest over the last year to diversify into renewables amid low oil prices. In March, Chief Executive Wan Zulkiflee Wan Ariffin said Petronas…
Ex-Hess Exec to Lead Restart of Idled Caribbean Refinery
The owners of an idled oil refinery in the U.S. Virgin Islands that once ranked among the world's largest have hired a former Hess Corp executive closely acquainted with the facility to oversee its return to service.Brian Lever, who ran the former Hovensa refinery on St. Croix for Hess and partner Petroleos de Venezuela until it filed for bankruptcy in 2012, joined Limetree Bay Refining this month as president and chief operating officer…
GE Says Four Flagship Power Turbines are Shut Down in U.S.
General Electric Co said on Thursday that four of its new flagship power turbines in the United States have been shut down due to an "oxidation issue" and warned it expects the problem to affect 51 of the giant machines it has shipped, sending shares lower.The problem was discovered a few weeks ago on turbine blades in a natural gas-fueled turbine, known as the 7HA, operated by Exelon Corp in Texas, GE told Reuters.
Shale Innovator Mark Papa Joins Schlumberger Board
Oilfield services company Schlumberger NV has appointed shale pioneer Mark Papa and energy researcher Tatiana Mitrova to its board of directors, according to a filing on Monday with the U.S. Securities and Exchange Commission.Papa, who built independent energy producer EOG Resources into one of the most profitable U.S. shale companies, currently heads Centennial Resource Development.His appointment comes just a few months after Helge Lund…
Schlumberger CFO Ayat to Retire Soon
Schlumberger NV Chief Financial Officer Simon Ayat plans to retire this year and a company insider has emerged as top candidate to replace him at the world's largest oil services firm, three people familiar with the matter told Reuters.Stephane Biguet, currently vice president of finance, is the frontrunner to replace Ayat, according to the people who declined to be…
Clash of the Russian Energy Titans
Russian energy major Rosneft is increasingly challenging domestic rival Gazprom in international gas markets, from West Africa to Turkey and even Europe, according to five industry sources with knowledge of the matter.Last week, Rosneft won a multi-billion dollar contract in Ghana that had been targeted by Gazprom, the sources said. It also signed a gas fields and pipeline…
Venezuela Arrests Two Chevron Execs
Chevron Corp said on Tuesday two of its executives were arrested in Venezuela, a rare move likely to spook foreign energy firms still operating in the OPEC nation stricken by hyperinflation, shortages and crime.Venezuelan Sebin intelligence agents burst into the Petropiar joint venture's office in the coastal city of Puerto La Cruz on Monday and arrested the two Venezuelan employees for alleged wrongdoing…
Gunvor Hires BP's Former Top US Trader
Gunvor has hired a senior veteran oil trader, David Garza, previously with BP and most recently U.S. oil refiner Tesoro, to run its U.S. operations as the Swiss trading house further expands in North American energy markets. Gunvor began building its U.S trading operations last year, expanding outside its core markets in Europe, Asia and Africa. The company initially…
Ophir's COO Higgs to Step Down
British oil and gas explorer Ophir Energy's Chief Operating Officer William Higgs will step down as the company reduces costs by cutting staff positions at its London headquarters, the company said on Friday. Energy companies have cut costs over the past few years due to a fall in oil prices. Ophir has faced further challenges in launching its Fortuna project in Equatorial Guinea - Africa's first deepwater floating liquefaction facility.
PDVSA Awards $138 mln Contract to Tackle Petcoke Problem
Venezuelan state oil company PDVSA said on Friday that Maroil Trading Inc has won a $138 million contract to remove a large pile of petroleum coke at the Jose solids terminal in the eastern state of Anzoategui. Petcoke, a byproduct of upgrading tar-like Orinoco oil into lighter crude, has accumulated quickly at Jose since a 2009 fire temporarily halted its export. The large black dunes have drawn criticism from environmentalists and nearby communities.
Pemex Appoints New Director for Commercial Arm
Mexico's state oil company Pemex said on Tuesday it had named Isaac Volin Bolok as head of its commercial arm, PMI Comercio Internacional. Volin Bolok will replace Jorge Sanchez and start the post on June 27. He previously served as the director of BlackRock in Mexico and corporate commercial director of now bankrupt airline Mexicana, according to his LinkedIn profile.
Dismay in Oil Twitterverse upon U.S. Trader's Exit
Oil traders keep a low profile. So when one of the most widely followed oil traders on Twitter abruptly closed his account last week, the outpouring of dismay among his thousands of followers was rare for the secretive multi-trillion dollar industry. Eric Rosenfeldt, who goes by the Twitter handle of Oil Merchant or @energyrosen, had attracted more than 8,000 Twitter followers for his quirky and candid opinions on the crude oil market.
