US energy envoy Pascual to step down

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US Special Envoy for International Energy Affairs Carlos Pascual announced Friday he will step down in July, U.S. officials told the Back Channel.

The departure plans come as oil proces have spiked amid the new security crisis in Iraq, as al Qaeda-linked the Islamic State of Iraq and Syria (ISIS) overtook the city of Mosul.

Pascual, a former US envoy to Mexico and Ukraine, stood up the new energy affairs bureau three years ago, but was never confirmed. He is expected to head next to Columbia University.

Pascual’s deputy Amos Hochstein is considered a possible nominee to succeed him.