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Tourmaline is growing as peers shed assets and reduce dividends with U.S. crude hovering below $50 a barrel.
CGG has lost more than half its market value in the past year as oil majors including Total SA slash spending on exploration.
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.
Speaking at the company’s annual investor meeting in New York, Tillerson cautioned that geopolitical turmoil could unexpectedly send prices higher.
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.
Chemical maker LyondellBasell said Tuesday it will part ways with chief financial officer Karyn Ovelmen.
The lawsuit alleges McClendon took “confidential information and trade secrets from Chesapeake.”
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.
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.
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.