Lawmakers Want UK to Stop Funding Fossil Fuel Projects Abroad
Britain must stop financing fossil fuel projects abroad by 2021 as it undermines the nation's efforts to combat climate change, a report by lawmakers said on Monday.The report, which targets financial support provided by the UK Export Finance (UKEF) agency, was published as Britain debates plans to set tougher climate goals and move towards a net zero emissions target by 2050."The government claims that the UK is a world leader on tackling climate change," said Mary Creagh, chair of the Environment Audit Committee, commenting on the report published by the committee."But behind the scenes the UK's
Luthi Steps Down as NOIA Head
The National Ocean Industries Association (NOIA) announced that Randall Luthi will leave the organization next month, after serving as the group’s president for nearly 10 years. Luthi will return to his home state of Wyoming to serve as Chief Energy Advisor to Wyoming Governor Mark Gordon.The offshore energy group NOIA represents more than 250 companies involved in the exploration and development of offshore energy, including oil and gas as well as renewables. Luthi represented the US offshore industry over two Administrations as a big supporter of the all-of-the-above energy approach.
Congo Republic Pledges to Reform State Oil Firm as Seeks Bailout
Congo Republic plans to replace the board of directors and appoint an audit committee at state oil company SNPC, as it strives to improve accountability and convince international lenders to bail out the country. SNPC, which holds equity in fields operated by Italy's ENI and France's Total, has been dogged by allegations of corruption and mismanagement, and the government on Wednesday criticised the "dysfunction" of its current set-up. The reform plans come as the government is negotiating…
Rigdon Named Interim CEO at Tidewater
Larry T. Rigdon will serve as interim president and chief executive officer (CEO) of Tidewater Inc. while a search committee seeks a permanent successor to Jeffrey M. Platt, who has elected to retire from his role as director, president and CEO of offshore service vessels (OSV) owner and operator effective October 15, 2017. “Having successfully completed the financial restructuring of Tidewater at the end of July, which positioned the company to weather current industry conditions and achieve success in the future…
TransCanada Names Siim Vanaselja Board Chairman
TransCanada Corp, Canada's No. 2 pipeline operator, said on Thursday it named Siim Vanaselja chairman of the board. Vanaselja succeeds Barry Jackson, who will retire after TransCanada's annual shareholders meeting in 2017. Jackson, who has been in the position since 2005, will continue to be a board member, subject to his re-election at the meeting. Vanaselja, who was the chief financial officer of Canada's largest telecommunications company BCE Inc and Bell Canada, has been TransCanada's board member since May 2014. He is also the chairman of TransCanada's audit committee.
Moyo, Austin Join Chevron Board
Chevron Corporation announced that Dr. Dambisa Moyo and Dr. Wanda Austin have been elected to Chevron's board of directors. Dr. Moyo's appointment is effective October 11, 2016; she will serve on the company's Audit Committee. Dr. Austin's appointment is effective December 1, 2016; she will serve on the company's Board Nominating and Governance Committee and Public Policy Committee. "Dr. Moyo and Dr. Austin bring unique insights that will be valuable to the board," said John Watson, Chevron's chairman of the board and chief executive officer. "Dr.
Semple, Utt Join Teekay Board of Directors
Teekay Corporation announced today that Alan Semple and Bill Utt have each accepted an invitation to join Teekay's Board of Directors, effective immediately. Semple and Utt will replace William B Berry and Dr. Ian Blackburne who have announced their retirement from the Teekay Board after serving as Directors since 2011 and 2000, respectively. Semple brings over 29 years of finance and energy industry experience to the Teekay Board. He was formerly Director and Chief Financial Officer at John Wood Group PLC (Wood Group)…
ST Engineeing Appoints Director
Singapore Technologies Engineering Ltd (ST Engineering) today announced the appointment of Mr Lim Ah Doo as an independent non-executive Director of the Company and a Member of the Audit Committee with effect from 10 November 2015. Mr Lim, 66, was formerly the President and subsequently the non-executive Vice Chairman of RGE Pte Ltd (formerly known as RGM International Pte Ltd). His past working experience includes an 18-year banking career in Morgan Grenfell from 1977 to 1995, during which he held several key positions including that of Chairman of Morgan Grenfell (Asia) Limited.
Natalenko Elected NOVATEK’s Chairman
OAO NOVATEK announced the results of its Board of Directors (“the Board”) meeting. Alexander Natalenko was elected Chairman of the Board and the members of the three Board committees were elected. The Strategy Committee is comprised of Alexander Natalenko (Chairman), Andrei Akimov, Burckhard Bergmann, Michael Borrell and Gennady Timchenko. The Audit Committee is comprised of Andrei Sharonov (Chairman), Robert Castaigne and Viktor Orlov. The Remuneration and Nomination Committee is comprised of Viktor Orlov (Chairman), Robert Castaigne and Andrei Sharonov.
Noble Group Chairman distanced from Audit
Elman steps down from audit, nominating committees; Noble gives no reason for changes. The chairman of Singapore-listed Noble Group Ltd has stepped down from the company's audit committee, in the first major move for the co-founder since the firm's accounting practices were called into question earlier this year. Influential proxy adviser Institutional Shareholder Services had called for significant changes to Noble's audit committee weeks after Asia's biggest commodity trader denied claims of misleading accounting made by blogger Iceberg Research.
Changes on BHP Billiton Board
BHP Billiton Chairman, Jac Nasser, today announced a number of changes to the BHP Billiton Board of Directors. Anita Frew has been appointed to the BHP Billiton Board as an independent Non-executive Director, effective as of 15 September 2015. Ms Frew has over 18 years’ experience as a director and chairman on public company boards across a range of global sectors, including chemicals, engineering and finance. She is currently Chairman Designate of Croda International Plc, the speciality chemicals group and Deputy Chairman of Lloyds Banking Group Plc.
Rolls-Royce Takes Davies on Board
Rolls-Royce appointed Alan Davies as a Non-Executive Director. He will join the Board with effect from November 1, 2015 and will become a member of the Nominations and Governance Committee, and the Audit Committee. Alan Davies is currently Chief Executive of Rio Tinto's Diamonds and Minerals division. He joined Rio Tinto in 1997 and has held a number of senior positions in Australia, London and the US, predominantly in Rio Tinto's Iron Ore product group where he has served as CFO, Managing Director Global Development and as President International Operations.
Statoil BoD Selections Announced
In a meeting in the Corporate Assembly of Statoil ASA on 9 June 2015 Øystein Løseth was elected as new chair and Roy Franklin as a new member and deputy chair of Statoil's board of directors. Chair of the board Svein Rennemo and board member Jim Mulva had in advance informed the nomination committee that they did not wish to stand for re-election in 2015. Bjørn Tore Godal, Jakob Stausholm and Marjan Oudeman were re-elected as members of the board of directors. Board member Rebekka Glasser Herlofsen…
Sanchez Energy Appoints New Board Member
Brian Carney was appointed to Sanchez Energy Corporation’s board of directors on May 5, 2015. The Sanchez Energy board determined Carney to be independent under the rules of the New York Stock Exchange (NYSE) and qualified to serve on its audit committee, the nominating and corporate governance committee and the compensation committee of the board under the rules of the NYSE and the Securities and Exchange Commission (SEC), to which committees Carney was appointed concurrently with his appointment as director.
Recommendation from Statoil's Nomination Committee
The nomination committee in Statoil has recommended that the company's corporate assembly elects Øystein Løseth as new chair and Roy Franklin as a new member and deputy chair of Statoil's board of directors. Furthermore, the nomination committee recommends a re-election of Bjørn Tore Godal, Jakob Stausholm and Marjan Oudeman as members of the board of directors. Chair of the board Svein Rennemo and board member Jim Mulva have informed the nomination committee that they do not wish to stand for re-election in 2015.
Sunoco Announces New Chairman, Other Board Changes
Sunoco LP announced today the appointment of Matthew S. Ramsey as Chairman of the Board, succeeding Sam L. Susser, who has resigned from the Board to pursue other new business interests. Ramsey has served as a director of Sunoco LP since August 2014, serving as chair of Sunoco LP's audit committee and serving on Sunoco LP's compensation committee. Ramsey also serves as a director of Energy Transfer Equity, L.P., and is chairman of the audit committee, as well as a member of the compensation committee.
Swissco's S$ 2.58 mi misappropriated
The Board of Directors of Swissco Holdings Limited and its subsidiaries have informed shareholders of the Company that the Group has discovered that an aggregate amount of approximately S$2.58 million was misappropriated from the accounts of the Group over the last 3 years by the VP - Finance (the “Employee”) of the Company. As of the date of this announcement, S$900,000/- has been recovered, leaving a balance of approximately S$1.68m to be recovered. Preliminary investigations revealed…
Foster Wheeler To Delist From NASDAQ
Foster Wheeler AG announced today that it intends to voluntarily delist the registered shares of the Company, par value CHF 3 per share, from the NASDAQ Global Select Market (“NASDAQ”) and, provided that the requirements for deregistration are met, in due course, it intends to subsequently deregister the Shares under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Company also intends to suspend its reporting obligations under the Exchange Act once it is eligible to do so.
GasLog Appoints New Director
GasLog Ltd. today announced that the Board has appointed Mr. Donald Kintzer as a new independent member of the Board of GasLog effective 27 October, 2014. Donald Kintzer has also been appointed a member of the Audit & Risk Committee of the Company. Mr. Kintzer will remain a member of the Board and Chairman of the Audit Committee of GasLog Partners LP. Mr. Kintzer was a partner with PricewaterhouseCoopers LLP ("PwC"), having retired in 2008, after an association of over 31 years. From 2005 to 2008…
Maher Joins Sanchez Energy Board of Directors
Sanchez Energy Corporation announced that Sean Maher was appointed to its board of directors on November 4, 2014. Maher will serve as an independent director and as a member of the Audit Committee, the Nominating and Corporate Governance Committee and the Compensation Committee of the Board. Maher was also appointed as the Co-Chairperson of Sanchez Energy's Audit Committee. Maher, 41, is the Senior Portfolio Manager of RCH Energy, an investment management firm, which he joined in June of 2008.
