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Chevron reshuffles management

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…announces three key appointments

LONDON – Chevron Corporation today announced that it is making three key appointments to its executive team and realigning its existing technology and services organizations.

Effective Jan. 1, 2014 , Jay Johnson becomes senior vice president, Upstream, and Joe Geagea becomes senior vice president, Technology, Projects and Services. The new roles will report to George Kirkland , vice chairman and executive vice president, Upstream.

Also effective Jan. 1, 2014 , Pierre Breber becomes corporate vice president and president, Chevron Gas and Midstream, reporting to John Watson , chairman of the board and chief executive officer. Following Kirkland’s planned retirement in 2015, consistent with the company’s mandatory retirement policy, Johnson and Geagea will report to Watson.

Chevron“These appointments ensure a smooth transition in our upstream business and simplify the delivery of technology and services to all of our businesses,” Watson said. “Jay, Joe and Pierre are experienced leaders who will enhance a very effective leadership team.”
Johnson, 54, currently is president of Chevron’s Europe , Eurasia and Middle East Exploration and Production Company, based in London .

He joined Chevron in 1981 and previously has been managing director of the Australia and Eurasia upstream business units.
Johnson will lead an upstream organization that continues to have four regional operating companies:

Todd Levy will replace Johnson in London as president of Europe , Eurasia and Middle East Exploration and Production Company. Levy currently leads a key Chevron upstream support organization and has wide-ranging upstream experience with past assignments for the company in Kazakhstan , Angola , Australia and the United States .

Melody Meyer continues as president of Asia Pacific Exploration and Production Company , based in Singapore .
Ali Moshiri continues as president of Africa and Latin America Exploration and Production Company , based in Houston .
Jeff Shellebarger continues as president of North America Exploration and Production Company , based in Houston .
Geagea, 54, will lead a new organization composed of energy and information technology, capital projects management, procurement, upstream production services and workforce development organizations. These groups will support the company’s upstream, downstream and midstream businesses.

Geagea, who joined Chevron in 1982, has held positions in each of these three areas. He is the current president of Chevron Gas and Midstream and previously was the managing director of the Asia South upstream business unit and president of the company’s downstream operations in East Africa , the Middle East and Pakistan .

Breber, 49, currently is managing director of the Asia South upstream business unit, based in Bangkok, Thailand . He joined Chevron in 1989 and previously has held senior roles in Chevron’s finance organization, including corporate vice president and treasurer. He will lead a Gas and Midstream business that was reorganized earlier this year to consolidate trading operations and strengthen its support to the upstream and downstream businesses.

Chevron is one of the world’s leading integrated energy companies, with subsidiaries that conduct business worldwide. The company is involved in virtually every facet of the energy industry. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and lubricants; manufactures and sells petrochemical products; generates power and produces geothermal energy; provides energy efficiency solutions; and develops the energy resources of the future, including biofuels.

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Oil

FG Introduces New Incentives To Revitalize Nigeria’s Oil & Gas Industry

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In a strategic move to revitalize Nigeria’s oil and gas sector, the Federal Government has unveiled two key fiscal incentives aimed at attracting investment and enhancing energy security.

The announcement was made by Mr. Wale Edun, the Minister of Finance and Coordinating Minister of the Economy on Wednesday.

The first initiative, the Value Added Tax (VAT) Modification Order 2024, introduces critical exemptions for essential energy products and infrastructure, including Diesel, Feed Gas, Liquefied Petroleum Gas (LPG), Compressed Natural Gas (CNG), Electric Vehicles, Liquefied Natural Gas (LNG) infrastructure, and Clean Cooking Equipment.

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These exemptions are designed to reduce living costs for Nigerians, promote energy security, and accelerate the transition to cleaner energy alternatives.

The second initiative, the Notice of Tax Incentives for Deep Offshore Oil & Gas Production, offers new tax relief options for deep offshore exploration projects.

This measure aims to position Nigeria’s deep offshore basin as a premier destination for international oil and gas investments, boosting the country’s appeal to foreign investors.

These reforms are part of a broader set of policy initiatives, known as Policy Directives 40-42, endorsed by President Bola Ahmed Tinubu.

The directives reflect the administration’s commitment to fostering sustainable development in the energy sector and enhancing Nigeria’s competitive edge in the global oil and gas market.

 

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Tinubu set to approve ExxonMobil-Seplat oil deal, expands CNG bus initiative

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By Yemie Adeoye

NIGERIA’s President Bola Tinubu has announced that the protracted ExxonMobil-Seplat upstream oil divestment will be formally approved by the Minister of petroleum within a matter of days, just as he announced his government’s intention to expand the Compress natural Gas, CNG buses initiative.

The President who stated this during his Independence day nationwide broadcast stated that the move is in line with his administration’s commitment to free enterprise, free entry and free exit in investments which is the hallmark of his administration investment policy.

“Fellow compatriots, our administration is committed to free enterprise, free entry, and free exit in investments while maintaining the sanctity and efficacy of our regulatory processes. This principle guides the divestment transactions in our upstream petroleum sector, where we are committed to changing the fortune positively. As such, the ExxonMobil Seplat divestment will receive ministerial approval in a matter of days, having been concluded by the regulator, NUPRC, in line with the Petroleum Industry Act, PIA. This was done in the same manner as other qualified divestments approved in the sector.”

The President also seized the opportunity to plead with Nigerians to be patient with his administration’s reform policies. “As your President, I assure you that we are committed to finding sustainable solutions to alleviate the suffering of our citizens. Once again, I plead for your patience as the reforms we are implementing show positive signs, and we are beginning to see light at the end of the tunnel”.

“Our energy transition programme is on course. We are expanding the adoption of the Presidential Initiative on Compressed Natural Gas for mass transit with private sector players. The Federal Government is ready to assist the thirty-six States and FCT in acquiring CNG buses for cheaper public transportation.

Fellow Nigerians, while we are working to stabilise the economy and secure the country, we also seek to foster national unity and build social harmony and cohesion. Our economy can only thrive when there is peace”. he enthused.

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ExxonMobil To Invest $10bn In Nigeria’s Deep-Water Oil Operations

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As part of the administration’s push to improve Ease of Doing Business (EoDB), Nigeria’s Vice President Kashim Shettima has expressed support for ExxonMobil’s plan to invest $10 billion in the country’s deep-water oil sector.

Speaking on Wednesday, September 25, 2024, during a meeting with ExxonMobil executives at the 79th United Nations General Assembly (UNGA) in New York, Shettima called the investment “a clear testament to the administration’s economic reforms and investor-friendly policies.”

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This announcement follows news that international maritime company DP World intends to develop a multibillion-dollar port project in Nigeria.

Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications, shared the development in a statement on Wednesday. He quoted Shettima as saying: “ExxonMobil’s potential investment aligns with the vision of President Bola Ahmed Tinubu’s administration for a more investment-friendly Nigeria.

We are committed to fostering an environment that supports such transformative projects.”Shettima also discussed the administration’s broader efforts to improve the ease of doing business, highlighting the “Renewed Hope Agenda,” which aims to simplify bureaucratic processes, enhance transparency, and offer fiscal incentives to attract global investors.

“Our administration has taken bold steps to unify the exchange rate, remove fuel subsidies, and implement tax reforms. These measures, though challenging in the short term, are intended to create a stable and predictable business environment in the long term,” he added.

On the oil and gas sector, Shettima mentioned that the government is revising the fiscal framework for deep-water operations to attract investment while ensuring fair returns for the Nigerian people.

 

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