Williams increases energy marketing and trading visibility


By the OGJ Online Staff

HOUSTON, Sept. 21, 2001 — Energy marketing and trading will become Williams Cos. Inc.'s third major business group, Steven J. Malcolm, president of Williams said Friday.

The marketing and trading unit has been a part of Williams's energy services group. The new unit joins the energy services and gas pipeline business segments. Malcolm said other potential organization changes will be announced later.

Bill Hobbs, currently the head of the marketing and trading business, will become CEO of that unit, and Phil Wright will succeed Malcolm as CEO of the energy services business. Malcolm said energy services will now include midstream gas and liquids, petroleum services, exploration and production, and international operations.

He said the reorganization reflects energy marketing and trading's role as a "prominent driver is Williams's growth plan" and will give the investment community a better view of energy marketing and trading's contribution.

In the second quarter of this year, energy marketing and trading, which provides energy commodities marketing and trading and price risk management services, reported profits of $273.2 million, compared to $272.6 million for the same period last year.

The Tulsa, Okla. company said a quarterly comparison of results reflected about $20 million of increased segment profit from natural gas and electric power services over the second quarter of last year, including a $26 million guarantee loss accrual resulting from the decision to discontinue certain third-party lending services.

Offsetting this increase was lower segment profit from natural gas liquids, crude oil, and refined products trading activities, the company reported.

Earlier this year, Williams opened a European energy marketing and trading desk in London. The expanded operation is geared toward energy risk management and structured transactions, such as power tolling agreements, as well as commodity trading to the European market, Williams said.

The company transacts more than $75 billion annually in energy and energy-related products in both the physical and financial markets.

Sponsored by FLSmidth

Related Articles

Three LDK solar companies seek quick Chapter 11 reorganization

LDK Solar Systems Inc., LDK Solar USA Inc. and LDK Solar Tech USA Inc. on Oct. 21 filed a prepackaged Chapter 11 reorganization plan, featuring the usual debt-for-equity swap in cases like this, with the U.S. Bankruptcy Court for the District of Delaware.

Pitt granted $987,000 to study nuclear reactor safety, operational efficiency

The U.S. Department of Energy’s Nuclear Energy University Programs (NEUP) awarded a $987,000 grant to the University of Pittsburgh to develop sensor networks that improve safety and operational efficiency in nuclear reactors and fuel cycle systems.

Follow Power Engineering on Twitter

Products Showcase

Dynamic Fluoride Ion cleaning DFIC of industrial natural gas turbines Hi-Tech Furnace Systems

Dynamic Fluoride Ion Cleaning of IGT Parts

The Dynamic Fluoride Ion Cleaning (DFIC) Process from Hi-Tech Furnace Systems is able to clean deep, narrow cracks of oxides by cycling between negative, atmospheric, and positive pressure.

Latest News

Shutterstock coal production trucks

Weekly Coal Production

The Weekly Coal Production shows how much coal is being produced across the U.S.

Federal Reserve Bank of Dallas Weekly Economic Indicators financial business

The Federal Reserve Bank of Dallas' Economic Indicators

The Federal Reserve Bank of Dallas offers a glimpse into how the markets are doing domestical...

Kvaerner awarded contract for gas-fired power plant in Delaware

Kvaerner North American Construction Inc. and its joint venture partner, Parsons Brinckerhoff...

Canadian Solar purchases two solar projects

Canadian Solar Inc. has acquired a majority interest in two utility-scale solar power project...

Operators Restart Unit 2 at PPL Susquehanna

Unit 2 at the PPL Susquehanna nuclear power plant near Berwick, Pa. resumed generating electr...

Settlement agreement limits cost recovery at Edwardsport

The Indiana Utility Regulatory Commission (IURC) on Dec. 27 modified and approved a settlemen...

Toshiba in talks to sell portion of Westinghouse nuclear unit

Toshiba Corp is in talks  to sell up to 16% of its stake in the Westinghouse Electric Co...

Utah nixes nuclear waste storage facility

Plans to park radioactive waste at a storage facility in Utah have been officially called off.

Archived Articles

2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013

Power Engineering Current Issue

10/01/2014
Volume 118, Issue 10
1410pe-cover

Buyers Guide Company Listings

Datapartner Inc

Our software Invest for Excel is used by more than 100 power companies worldwide for capital budgeting, financial modeling and valuation. We also offer a Sharepoint solution for capex portfolio.

Interdevelopment Inc

Offers management consulting and marketing, financing for power plants, particularly energy production by renewable fuels, such as wind/solar/biomass power, including compliance issues.

The Clifton Corp

Engineering and development company specializing in water resources, hydro and solar power and biogas/methane facilities. Provides development services from engineering, economic and financial feasibility to financing and operations and maintenance.

Valentin Software Inc

Valentin Software is the largest, most comprehensive and oldest developer of solar PV and thermal design, simulation, modeling and financial analysis software, with customers in over 70 countries.

Power Industry Wire News

Magnum Hunter Resources Announces Closing of New Credit Facilities and Refinancing of Prior Revolving Credit Facility

Magnum Hunter Resources Announces Closing of New Credit Facilities and Refinancing of P...

Gehrlicher Solar America Corp. Grabs Top Spot on Solar Power World's 2014 Top 400 Solar Commercial Contractors List

Gehrlicher Solar America Corp. Grabs Top Spot on Solar Power World's 2014 Top 400 Solar...

Welocalize Sponsors and Exhibits at Localization World 2014 in Vancouver

Welocalize Sponsors and Exhibits at Localization World 2014 in Vancouver

Falconridge Oil Technologies Corp. Discusses Mission Statement for Growth of Terra Slicing Alternative Fracking Technology

Falconridge Oil Technologies Corp. Discusses Mission Statement for Growth of Terra Slic...

Semitech Debuts Single-Chip, Grid-Connected Signal Controller for IoT Applications

Semitech Debuts Single-Chip, Grid-Connected Signal Controller for IoT Applications

Power Engineering

Article Archives for Power Engineering Magazine

Continuing Education

Professional Development Hours

To access a course listing associated to a specific topic listed below, click on the topic of choice from the list below.

Latest Energy Jobs

View more Job Listings >>


Power Engineering Newscasts

EPA chief: carbon caps will boost economy
Australia, Russia enter nuclear power agreement with Argentina
Largest battery energy storage in North America now operational
EPA chief: carbon caps will boost economy Largest battery energy storage in North America now operational Australia, Russia enter nuclear power agreement with Argentina Texas’ Panda Temple combined cycle plant up and running
Siemens agrees to acquire Dresser-Rand
Safety concrete poured at UAE nuclear reactor power project
Foster Wheeler to upgrade natural gas-fired power plant’s emission controls
GE, TransCanada partner on natural gas turbine design
Energy storage global market to grow to $15.6B by 2024; DOE awards $2M to support taller wind turbine towers; Hinkley Point C nuclear project have financial incentives approved; N.J. company building waste-to-energy project in Ireland