Malaysian billionaire Ananda Krishnan dies at 86
His private investment firm announced that Ananda Krishnan died at age 86. He had a wide range of business interests, from oil and natural gas to telecommunications. The cause of death has not been determined. The tycoon avoided publicity, but became known internationally in the mid-1980s after he helped fund the Live Aid concert organised by rock star Bob Geldof. He started out as a young businessman by setting up a consultancy. Later, he ventured into the oil trading sector and gambling.
Efficient Wave-Generated Power … Really!
Wave-generated power could be considered the Rodney Dangerfield of offshore renewable energy sources; it gets no respect. There have been a number of high-profile, expensive failures that have conspired to give the sector a poor reputation despite a number of engineering advances. A new entrant is SurfWEC offering a patented “surf-making” Wave Energy Converter which has been in development since 2007. Its developers promise it will stand out from the field and perform where others have failed. How?
Perry's Proposed Grid Rule Scrambles Energy Alliances
U.S. Energy Secretary Rick Perry's attempt to save the coal and nuclear industries by proposing a new grid resiliency rule is making for some odd bedfellows across the energy sector. The proposed grid resiliency rule threatens to turn two of the Trump administration's most loyal groups of supporters against one another, as the gas and coal industries square off for a fight over market share. The White House has celebrated…
McDonald Takes the Helm at OPITO
Global safety, standards and workforce development organization OPITO has appointed John McDonald as CEO as the organization seeks to further drive the international skills agenda for the oil and gas industry. McDonald has been Interim CEO since January and was previously U.K. managing director for OPITO after joining the organization in 2012. The appointment comes after an external and internal recruitment process following the sudden death of former CEO David Doig earlier this year.
Cairn Appoints Giadrossi as Non-Executive Director
Cairn has appointed Nicoletta Giadrossi as an independent non-executive director with effect from 10 January 2017. Nicoletta will also become a member of the Company’s remuneration committee. Nicoletta Giadrossi holds a BA in Mathematics & Economics from Yale University and an MBA from Harvard Business School. She began her career with The Boston Consulting Group before moving to General Electric, where she progressed through…
Executive Changes at Transocean
Transocean Ltd. today announced that, as mutually agreed with the company, Esa Ikaheimonen is stepping down as Executive Vice President and Chief Financial Officer effective immediately. Mr. Ikaheimonen has also resigned his company-appointed position as the Chairman of the Board of Directors of Transocean Partners LLC, a subsidiary of Transocean. Additionally, the company announced that Mr. Mark Mey has been appointed as Executive Vice President and Chief Financial Officer effective May 28, 2015.
U.S. Set to for More Accurate Oil Production Data
Figures on U.S. oil production are subject to much more uncertainty than the numbers for oil stocks, refinery throughput and imports because the Energy Information Administration (EIA) has to rely on state-level data rather than its own surveys. That could be about to change, however, because the EIA has received approval from the White House to launch its own mandatory monthly survey of oil and condensate production. The first of the new survey forms have gone out and respondents are beginning to submit data.
Transocean to Appoint Miller to Board
Transocean Ltd. Assuming Miller is elected by shareholders at the EGM, the board intends to designate him as Vice Chairman. Transocean explained that Ian C. Strachan, the current Chairman of the Board, will reach 72 years of age before the 2015 Annual General Meeting (AGM). In accordance with the company's Corporate Governance Guidelines, it is anticipated thathe will retire from the board at the end of his term at the 2015 AGM.
