Category: Corporate governance

Petronas turns to $2.7 billion fourth-quarter loss on oil slump

Petronas won’t generate enough cash from operations this year to cover capital spending and dividend commitments, said Vikas Halan, a Singapore-based vice president at Moody’s Investors Service Inc., estimating the shortfall to be at least 10 billion ringgit.  More »

LyondellBasell announces CFO’s departure

Chemical maker LyondellBasell said Tuesday it will part ways with chief financial officer Karyn Ovelmen.  More »

Chesapeake Energy sues founder, former CEO McClendon

The lawsuit alleges McClendon took “confidential information and trade secrets from Chesapeake.”  More »

Oil budgets slashed to protect shareholder dividends

The spending cuts, which will result in production decreases and job cuts, come as oil giants try to protect quarterly dividends paid to their investors.  More »

BG Group’s new CEO Lund starts three weeks early amid oil crash

Norway’s Statoil ASA, which Lund led until October last year, agreed last week to release him from his contractual commitments, BG said in a statement today.  More »

Brazil’s Petrobras names state banker as new CEO

The selection of Aldemir Bendine, announced on Petrobras’ website, failed to impress some analysts, who described the banker as “underwhelming.” Shares of Petrobras dropped 6.9 percent in trading Friday.  More »

Brazil’s Petrobras expected to name new CEO

Brazil’s state oil company is in crisis amid an expanding corruption investigation into a long-running kickback scheme on its contracts.  More »

Brazil makes third round of searches and arrests in Petrobras kickback scheme

Those involved may be charged with fraud, corruption, money laundering and criminal associations, police said.  More »

Petrobras CEO steps down amid Brazil’s biggest graft scandal

The scandal has also engulfed Brazil’s largest construction companies, which may bring public works projects to a halt.  More »

Strike negotiators back at the table Tuesday night

Negotiators broke off their talks late Saturday night when negotiations came to an impasse.  More »

Petrobras shares rally most since 1998 on CEO exit speculation

Rousseff’s administration told Chief Executive Officer Maria das Gracas Foster that it’s seeking candidates for her job, Folha de S.Paulo newspaper reported today.  More »

United Steelworkers stage downtown Houston protest at LyondellBasell HQ

The strike against LyondellBasell’s refinery in Houston began early Sunday as part of a nationwide effort targeting nine plants nationwide, including five in the Houston area.  More »

Striking refinery workers resume negotiations with Shell

Shortly after midnight Sunday, workers struck at the LyondellBasell refinery in Houston, Marathon Petroleum’s Galveston Bay Refinery in Texas City and Shell Deer Park Refinery.  More »

Union rally planned for downtown Houston Tuesday

The march is timed to coincide with LyondellBasell’s 10 a.m. fourth-quarter earnings call to investors and stock analysts.  More »

Exxon Mobil updates anti-discrimination employment policy

Spokesman Alan Jeffers said Friday that the Irving, Texas-based oil giant added these protections to comply with federal law.  More »
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