Energy Roundup: Iraq Oil Confab, Bonterra's Management Moves, VeraSun's Sunny Side, and More

Iraq oil conference oozing oil men -- How can you tell that things have settled down a bit in Iraq, holder of the world's second largest known crude reserves? Oil execs the globe over have descended upon the still-insecure country for its first ever oil conference. Officials from Nippon Oil Exploration, Lukoil Overseas Holding, Moller-Maersk, ConocoPhillips, Marathon Oil and Pertamina all attended the Bagdad conference hoping to win deals to improve Iraq's existing oil infrastructure or explore new sources. But perhaps the greatest challenge for attending oil execs is buying gifts for the new Iraqi officials. Buying for Saddam was easy -- rare cognac, exotic pets, gold-plated firearms, platinum thumbscrews, etc. But what do you get for an oil ministry official in a fledgling Middle Eastern democracy? Flowers? We think not. [Source: RigZone]
Management changes at Bonterra -- Canada's Bonterra Oil & Gas has announced that COO, Randy M. Jarock, will take over as president of the company. The role is being transferred from George F. Fink, the company's CEO and (now) former president. Fink will continue to fulfill the CEO post. [Source: CNW Group]

Italy's Edison plans $9.2 billion investment -- While other euro power companies delay expansion plans as the global economy slides, Italy's Edison, the country's second biggest energy producer, is forging ahead with plans to invest $9.2 billion in new projects. A cavaliere attitude toward recession? Now that's Italian! [Source: Reuters U.K.]

Bankruptcy courts says yes to VeraSun -- A U.S. bankruptcy court that is dealing with VeraSun Energy's Chapter 11 restructuring gave the nod for the company to take out $197 million in loans. This should allow the U.S. ethanol giant to continue its operations. VeraSun filed for Chapter 11 in October. The company produces about 13 percent of the nation's ethanol. [Source: Earth2Tech]