Category: Corporate governance

Petrobras investors claim PwC ignored red flags of fraud

Petrobras and its senior executives violated provisions of U.S. and Brazilian corporate law, according to a complaint in Manhattan federal court.  More »

Houston pipeline giant says its CEO is stepping down

Enterprise indicated that the decision to retire had come from its current CEO, but did not elaborate on the reasons for the shift.  More »

Occidental searching for Chazen’s replacement

Occidental Petroleum Corp. is searching for candidates to succeed Stephen I. Chazen as chief executive officer when he steps down in 2016.  More »

Ex-W.Va. coal boss pleads not guilty in mine safety case

Blankenship entered his plea on Tuesday at an arraignment hearing in U.S. District Court in Beckley.  More »

Anadarko paid executives $127,252 for club memberships in 2014

Anadarko Petroleum Corp., an oil and gas exploration and production company, paid its five named executives $127,252 in fees for club memberships in 2014, a benefit provided by only two of the 12 peers it uses to benchmark compensation.  More »

Petrobras said to pick Citi and Bradesco for asset sales

Petrobras, engulfed in Brazil’s biggest ever corruption scandal, is looking to raise money for expenditures and debt payments this year.  More »

China indicts former oil boss on corruption charges

Jiang Jiemin was charged with abusing his position at China National Petroleum Corp. and taking bribes, which led to large losses of public money, the national prosecutor’s office said in a statement.  More »

ConocoPhillips to lay off 200 Canadian workers

The Houston-based independent said the layoffs will affect 7 percent of the company’s Canadian workforce.  More »

Tourmaline hunts for energy deals as rivals dump assets

Tourmaline is growing as peers shed assets and reduce dividends with U.S. crude hovering below $50 a barrel.  More »

CGG open to Technip partnership after spurning takeover approach

CGG has lost more than half its market value in the past year as oil majors including Total SA slash spending on exploration.  More »

Duke Energy to settle lawsuit over CEO ouster

Bill Johnson’s ouster was “the most blatant example of corporate deceit that I have witnessed during a long career on Wall Street,” John Mullin III, the former lead director of Progress Energy, said at the time.  More »

Exxon CEO: Get used to lower oil prices

Speaking at the company’s annual investor meeting in New York, Tillerson cautioned that geopolitical turmoil could unexpectedly send prices higher.  More »

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 »
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