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BP announced a reorganization of its top managers Monday and said its upstream chief will become deputy CEO and share duties with CEO Bob Dudley as the British oil major navigates one of the worst oil downturns in decades.
National Oilwell Varco saw a lot of change in 2014, following the naming of its new CEO and the reorganization of its business units.
Energy Future Holdings Corp., the Texas power producer that skirted bankruptcy this week, said it’s meeting debt obligations, including coupons due Nov. 1.
The federal agency that oversees offshore drilling will be dismantled in two weeks, but the former prosecutor who now heads the office isn’t going anywhere — at least not right away. Michael Bromwich will temporarily head the new Bureau of Safety and Environmental Enforcement until the Obama administration hires a permanent replacement. The administration also announced today that Tommy Beaudreau will head the new Bureau of Ocean Energy Management.
A leading House Republican today unveiled his plans for reorganizing the federal agencies that oversee offshore energy operations and beefing up the credentials of the government inspectors that police them. Aside from a few name changes, the proposal mirrors the overhaul launched by the Obama administration in the wake of last year’s Gulf oil spill.
The nation’s top offshore drilling regulator said he is still studying whether the Bureau of Ocean Energy Management, Regulation and Enforcement can do more to keep oil and gas companies with checkered histories from exploring offshore.
Unlike the MMS, the new Office of Natural Resources Revenue will be separate from other bureaus in the Interior Department that are dedicated to leasing decisions and drilling safety.