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
Recommend this article Recommend this article () You recommended this article You recommended this article ()
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

Current Magazine Issue

08/01/2013
Volume 117, Issue 8
1308PE_C1_digital

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

Freedom Energy Holdings Inc. Presents ELAS Prototype Demonstration for Engineering Execs; Michigan Government Officials

Freedom Energy Holdings Inc. Presents ELAS Prototype Demonstration for Engineering Exec...

FuelQuest Announces GRAIL 2014 Conference Speakers

FuelQuest Announces GRAIL 2014 Conference Speakers

Vista Partners Updates Coverage on Power Solutions International, Inc. (NASDAQ: PSIX); Price Target Raised to $110.00

Vista Partners Updates Coverage on Power Solutions International, Inc. (NASDAQ: PSIX); ...

Ultra Electronics USSI and Liquid Robotics Announce the Development of Long Duration, Maritime Security Solution

Ultra Electronics USSI and Liquid Robotics Announce the Development of Long Duration, M...

Ceres Police Department Selects Zero Motorcycles as Their Electric Motorcycle of Choice

Ceres Police Department Selects Zero Motorcycles as Their Electric Motorcycle of Choice

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 >>