SBM Offshore Nominates Wood as CFO
SBM Offshore has nominated D.H.M. Wood as a member of the management board and chief financial officer (CFO) to replace current CFO, P.M. van Rossum, who is set to retire. The company will hold an Extraordinary General Meeting (EGM) on November 30, 2016 where it will be proposed that Wood be appointed as a member of the management board for a period of four years until the 2021 AGM. Van Rossum will then step down as management board member and CFO. Wood has worked at Royal Dutch Shell plc since 1993 in various financial and management positions, including…
Al Qaeda Still Reaping Oil Profits in Yemen
Al Qaeda may have been pushed out of the enclave it carved out in Yemen as the country descended into civil war, but the militants are still entrenched in other parts of the country's south, reaping profits from smuggled fuel. Scores of militants were killed in a Gulf Arab-backed offensive on Al Qaeda's de facto capital of Mukalla, Yemen's third largest seaport, but hundreds fled to neighbouring Shabwa province and beyond. A month later, al Qaeda in the Arabian Peninsula (AQAP) is thriving by joining diverse armed groups in taxing fuel delivered illicitly to remote beaches along the Arabian Sea coast, security, tribal and shipping sources say.
Oxford University Says Will Not Invest in Coal, Tar Sands Companies
The University of Oxford will continue to avoid investments in companies involved in coal extraction and tar sands, the university's highest decision-making body said on Monday. The university's funds - the Oxford Endowment Fund and the Oxford Capital Fund - have 2 billion pounds ($3.1 billion) of assets under management, and none of it is currently invested in coal or tar sands, the university said in a statement. "Our investment managers take a long-term view and take into account global risks, including climate change, when considering what investments to make," said Oxford University Vice-Chancellor Professor Andrew Hamilton.
