EQT’s Steve Schlotterbeck has resigned as the company’s president and CEO, citing personal reasons. He also stepped down from the board of directors. EQT has appointed David Porges as interim president and CEO.
CERAWeek closed out with Republican U.S. Senators John Cornyn of Texas and Lisa Murkowski of Alaska criticizing President Trump for his imposition of broad tariffs on steel and aluminum and his overall trade policy. Senator Cornyn said the President appeared to be acting on the populist impulses, he ran on as a presidential candidate. Senator Murkowski said “This is not coming at a good time for us,” noting that Alaska is working to build LNG export facilities and pipelines. She added the tariffs could add up to half a billion dollars to a planned 800-mile pipeline.
Crude oil markets had little immediate reaction to the departure of Secretary of State Rex Tillerson this week, but at least one geo-political expert believes the firing will ultimately have a bullish impact on oil prices. Helima Croft of RBC Capital Markets told CNBC that Tillerson, formerly the CEO of ExxonMobil, was a moderating influence in the administration, especially concerning the Iran nuclear deal and sanctions against Venezuela. Croft said, the incoming Secretary of State, Mike Pompeo, former CIA director, is a known hawk. Croft added, if he is able to convince the President to take a hardline approach toward those countries, significant barrels of oil could come off the global market and push prices up.
Earlier this week, a federal appeals court denied New York state’s petition to review orders from FERC that authorized millennium pipeline to build a natural gas line to a power plant in Orange County, New York.
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