Category: Corporate governance

Hess misses earnings estimate on lower oil prices

Hess announced Monday it would cut its capital spending plan for the year 16 percent to $4.7 billion.  More »

BP will freeze pay for most of its employees

The announcement came today in an internal message to employees, said BP spokesman Brett Clanton.  More »

Richard Kinder to step down as CEO in June

The move had been telegraphed since December, but a time for the transition had not been set until the company announced its fourth-quarter 2014 earnings Wednesday.  More »

Apache CEO Farris retires

John Christmann, the company’s executive vice president and chief operating officer for North America, will succeed him.  More »

Schlumberger CEO sees new tech elevated amid falling prices

The oil-field service industry will face a tough year in 2015 as North American oil producers plan on cutting spending around 30 percent.  More »

San Antonio-based driller cutting 20 percent of workforce

Last April at an Eagle Ford event, a company official said that Lewis had grown from 300 employees to around 1,300. By the fall, a news release from the Texas Workforce Commission said the company was at 1,200 employees just at its Encinal operations center.  More »

Sanchez cuts 2015 budget by at least 40 percent

Producers such as Continental Resources, Marathon Oil and Oasis Petroleum have all announced big spending reductions in response to oil prices that have fallen in half since their June peak.  More »

BP details job cuts, capital spending declines in latest economic impact report

Numbers from the British oil giant’s annual economic impact report showed that capital spending fell to $9.1 billion in 2013.  More »

Alstom to pay $772 million to settle bribery charges

U.S. authorities allege Alstom had a “widespread scheme involving tens of millions of dollars in bribes” paid to officials worldwide in countries including Indonesia, Saudi Arabia, Egypt, the Bahamas and Taiwan.  More »

Ex Petrobras manager says she spoke with CEO about anomalies

President Dilma Rousseff on Monday sharply defended the chief executive officer of the Brazil’s state-run oil company despite allegations she was told years ago about some of the irregularities that are ballooning into the nation’s biggest corruption scheme yet.  More »

Nabors CEO takes a pay cut

Oil-service companies and rig contractors are preparing for an estimated 25 percent drop in spending next year from explorers and producers after crude prices dropped to a five- year low.  More »

LyondellBasell names new CEO

Chemical company LyondellBasell Industries tapped Bhavesh V. “Bob” Patel, an executive vice president with the company, to serve as its new executive officer, the company announced Thursday morning.  More »

Here’s the CEOs behind Houston’s biggest oil companies

The 20 largest Houston-based oil and gas companies were valued at $868 billion in 2014.  More »

Devon Energy CEO to retire next year

Devon Energy Corp. CEO John Richels, 63, will retire next year and likely be replaced by chief operating officer David Hager, the company announced.  More »

Enbridge surges after asset shift, dividend boost

Enbridge said yesterday it plans to move C$17 billion worth of Canadian liquids pipelines to the Enbridge Income Fund to help pay for capital investment.  More »
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