Category: People

BP unit mismanaged employee retirement plans, workers say

BP’s safety record before the sinking of the Deepwater Horizon made buying shares in the company’s North American unit an “imprudent investment,” workers say in a lawsuit claiming BP lost hundreds of millions in retirement funds because it invested too heavily in its own shares.  More »

Raise denial has 41 Exxon Mobil women boiling

The 41 clerical workers at the company’s chemical and refinery complex in Baytown are steamed, saying they’ve been denied raises — because of their gender – by a company that reported a $10.6 billion first-quarter profit this week.  More »

Defense veteran in talks to join Hayward energy fund

The board of Tony Hayward’s new energy fund, Vallares, which will see the former head of BP return to British corporate life, is taking shape. George Rose, the former finance director at defense contractor BAE Systems is in talks to take up the position of chair of the audit committee. (Via FT.com)  More »

Dick Cheney: Arab uprisings unlikely to disrupt oil flows for long

The former vice president opined to a Houston crowd about the Arab Spring, alternative energy, his ties to Halliburton and why secret gaffes on his first day as Secretary of Defense actually were to his benefit.  More »

Russia’s oil tsar unbowed after BP breakdown

Deputy Prime Minister Igor Sechin, who this week saw the crowning achievement of his career as Russia’s energy tsar thwarted by rival businessmen, shows no sign of conceding defeat.  More »

Iran rules Ahmadinejad can’t be oil caretaker

Mahmoud Ahmadinejad made clear this week that he was taking on the job of caretaker oil minister after firing the previous minister last week. In that role, Iran’s president planned to personally chair an OPEC meeting in Vienna in June since Iran holds the rotating presidency of the oil bloc.  More »

They just don’t write songs about the oil patch… or do they?

Did you hear the Lady Gaga song about drilling mud and well completions? No? That’s because there isn’t one. But there are other tunes out there that glorify, vilify and lament work in the oil patch.  More »

Fastow could be home in June

The former Enron finance chief may stay only a month at the Houston halfway house where he arrived this week. Fastow is eligible for in-home confinement — under which he can live at home with his wife and two sons under some restrictions – on June 17.  More »

Fastow could be back in his own home next month

Former Enron CFO Andrew Fastow is eligible to move from a Houston halfway house such as the one pictured here to in-home confinement as early as June 17. Fastow’s former Enron colleague, Richard Causey, is already finishing his sentence at home.  More »

Enron’s Andy Fastow returns to Houston

Former Enron CFO Andrew Fastow was moved to a halfway house in Houston to serve out the rest of his sentence for pleading guilty to conspiracy.  More »

Who are the new Rockefellers?

On the 100th anniversary of the ruling that broke up the Standard Oil monopoly, Loren Steffy ponders who would be considered the great oil visionaries of the post-Rockefeller era. Or put another way, who’s the Steve Jobs or Bill Gates of energy?  More »

Report: Libyan oil minister defects to Tunisia

He is one of the the highest profile figures to abandon Moammar Gadhafi’s government amid fighting between the military and rebels.  More »

Woodside names Coleman as CEO

Woodside Petroleum selected Peter Coleman, a 27-year veteran with Exxon Mobil, as its new chief executive, showing how energy companies increasingly prize expertise in major natural-gas developments. (Via WSJ)  More »

ConocoPhillips CEO calls tax proposal unfair

ConocoPhillips CEO James Mulva said Wednesday that major oil companies are being unfairly targeted by proposals to cut tax breaks that backers say could raise billions to help reduce the U.S. deficit. Mulva and the CEOs of Exxon Mobil and Chevron are scheduled to testify against the tax proposals today in Washington.  More »

Energy execs among the ranks of well-paid CEOs

Oxy’s Ray Irani makes the Top 50 list at No. 2. Find out where the leaders of Exxon, Apache, Chesapeake and others landed.  More »