Chevron realigns natural gas, midstream business
The new gas and midstream organization will be effective June 1, 2013. Until now, Chevron's downstream unit oversaw the company's trading operations for crude oil and refined products, while the gas and midstream business was responsible for Chevron's natural gas and LNG trading operations.
Chevron is realigning its business by consolidating the company's supply and trading functions into a single supply and trading group within its gas and midstream organization, the company said on Thursday.
Until now, Chevron's downstream organization oversaw the company's trading operations for crude oil and refined products, while the gas and midstream business was responsible for Chevron's natural gas and liquefied natural gas trading operations.
"These changes will more tightly integrate our supply and trading activities and allow our gas and midstream organization to create value across our upstream and downstream assets," said Chevron CEO John Watson.
Watson said that Joseph C. (Joe) Geagea, 53, will lead the new organization and retain his title as corporate vice president and president for Chevron Gas and Midstream.
In addition to supply and trading, Geagea will continue to be responsible for shipping, pipeline, power and gas commercialization operations. Geagea will report to Watson in his expanded role effective immediately.
The new gas and midstream organization will be effective June 1, 2013.
"Joe's enterprise-wide experience makes him well qualified to lead this organization," said Watson.
Geagea joined Chevron in 1982. Following the Chevron and Texaco merger in 2001, Geagea led the integration of the two companies' downstream operations.