MOVES: US Chevron realigns trading functions, Geagea to lead group

31 January 2013 20:12  [Source: ICIS news]

HOUSTON (ICIS)--Chevron will consolidate its supply and trading functions into a single supply and trading group within its Gas and Midstream organisation, the US-based company announced on Thursday.

The present structure has Chevron’s Downstream organisation overseeing the company’s trading operations for crude oil and refined products, while the Gas and Midstream operation is responsible for the company’s natural gas and liquefied natural gas (LNG) trading operations.

"These changes will more tightly integrate our supply and trading activities and allow our Gas and Midstream organisation to create value across our upstream and downstream assets," said Chevron CEO John Watson.

Joseph Geagea, 53, will lead the new consolidated organisation and retain his title as corporate vice president and president, Chevron Gas and Midstream, Watson said. In addition to supply and trading, Geagea will continue to be responsible for the company's shipping, pipeline, power and gas commercialisation operations. He will report to Watson in his expanded role effective immediately.

The new Gas and Midstream organisation will be effective on 1 June.

By: Jeremy Pafford
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