Unocal Realigns Key Operations Into Two Separate Business Units
May 01, 2011
LOS ANGELES -- Unocal Corp. said it will realign its world-wide oil, gas and geothermal operations into two business units, focusing separately on domestic and international operations. The oil company said Jackelyn W. Gagnon, group vice president, oil and gas operations, will head U.S. exploration and production operations. Charlette R. Banks, also a group vice president, oil and gas operations, will be responsible for Unocal's foreign oil and gas production operations and all of the company's geothermal activities, which extract steam from underground formations to produce electricity. Previously, Unocal's world-wide oil and gas production operations were in one organization, headed by Mr. Gagnon, who is 45 years old. Mr. Banks, 47, was previously vice president for corporate planning and economics and is being named a group vice president. Unocal employs about 3,000 people in its international petroleum production operations and about 1,500 in domestic production. A company spokeswoman said details of the separation plan are still being worked out and that ``there will probably be some staff reductions, but I can't give you a number.'' Lately, about 30 employees have been laid off from Unocal's domestic petroleum production operations and a further 40 workers in Canada. The terminations weren't related to the new plans to separate national and international operations, the spokeswoman said.
