API Concludes Annual Meeting

Source: www.gulfoilandgas.com 10/18/2010, Location: Asia

API held its annual meeting in Atlanta, Georgia. Leaders representing the oil and natural gas industry convened to review the events of the past year, assess opportunities and industry challenges ahead, and elect new members to its board of directors.

“While this has been a year of tragedy and many challenges, it has also presented us with an opportunity to further improve and make things better. And we can take pride in the way our industry has stepped up to ensure safe and reliable energy production,” said Jack Gerard, president and CEO of API. “Producing the energy America needs will continue to be our most important commitment.”

On Sunday, David J. O’Reilly, retired chief executive officer of Chevron, was awarded the American Petroleum Institute's highest honor, the Gold Medal for Distinguished Achievement.

The API Board of Directors on Monday elected several new members, including John S. Watson, chairman and chief executive officer of Chevron Corporation, as chairman of API’s board, effective Jan. 1, 2011. Watson succeeds Devon Energy Executive Chairman Larry Nichols and will lead API for the next two years.

Under Nichols’ guidance, Gerard said, “API has been highly effective in the crucial drive to help those who make the nation’s policy understand the importance of developing our own oil and natural gas resources. It is vital and fortunate that we have strong leadership in place to follow Nichols as chairman during this critical time for our industry.”

New members joining Watson on the board will be Jean-Michel Lavergne of Total E&P USA, Joseph Bryant of Cobalt International Energy, Virginia Lazenby of Bretagne LLC, Harry Pefanis of Plains All American Pipeline, Douglas Matthews of USS Tubular Products, Steve Chazen of Occidental Petroleum Corporation and Karen Wright of Ariel Corporation.

API represents more than 400 oil and natural gas companies, leaders of a technology-driven industry that supplies most of America’s energy, supports more than 9.2 million U.S. jobs and 7.5 percent of the U.S. economy, and, since 2000, has invested nearly $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives, while reducing the industry’s environmental footprint.


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