LONDON, April 12 (Reuters) – Two years on from the Gulf of
Mexico oil spill and BP suffered a significant
shareholder rebellion over bosses pay on Thursday, the price of
a share performance and dividend payout that languishes well
below pre-spill levels.
The company comfortably won a vote at its Annual General
Meeting on adoption of its remuneration report, but investors
representing 11.78 percent of shares voted against — a bigger
rebellion than usually accompanies such events for big UK
LONDON, April 12 (Reuters) – BP will run the gauntlet
of protests from environmentalists and investors alike at its
annual shareholder meeting on Thursday where it will make the
latest in a series of attempts to put the Gulf of Mexico oil
spill behind it.
Chairman Carl-Henric Svanberg and Chief Executive Bob Dudley
are likely to face some harsh questions from shareholders
frustrated at the group’s continued weak share price, sceptical
about its turnaround prospects and unhappy about executive pay.
LONDON, April 11 (Reuters) – Maxim Barsky, the high-flying
executive who quit BP’s Russian joint venture in frustration at
not being given its top job, is planning a comeback by buying
into minnow Matra Petroleum and building it into a
multi-billion dollar business.
The 38-year-old Russian is hoping to follow in the footsteps
of former BP boss Tony Hayward, who established bid
vehicle Vallares with financier Nathaniel Rothschild after he
left BP in the wake of the Gulf of Mexico oil spill.
LONDON, April 11 (Reuters) – The former chief
executive-designate of BP’s Russian joint venture, TNK-BP, who
left the group after being sidelined, has made a comeback by
buying into minnow explorer Matra Petroleum, which he
may turn into a bid vehicle.
Maxim Barsky left his role as deputy CEO and CEO designate
at TNK-BP, Russia’s third-largest oil producer, in October,
after BP and its Russian oligarch partners declined to elevate
him to the top job.
LONDON (Reuters) – The government of the semi-autonomous Kurdish region of Iraq has confirmed that it received emails from a senior JP Morgan banker that the UK financial regulator said constituted market abuse.
The banker, Ian Hannam, who was JPMorgan’s London-based global chairman of equity capital markets, was later fined 450,000 pounds by the Financial Services Authority (FSA) and has since resigned.
LONDON, April 8 (Reuters) – The government of the
semi-autonomous Kurdish region of Iraq has confirmed that it
received emails from a senior JP Morgan banker that the
UK financial regulator said constituted market abuse.
The banker, Ian Hannam, who was JPMorgan’s London-based
global chairman of equity capital markets, was later fined
450,000 pounds ($712,400) by the Financial Services Authority
(FSA) and has since resigned.
LONDON, April 6 (Reuters) – Ashti Hawrami, oil minister of
the semi-autonomous Kurdish region of Iraq, was the recipient of
emails from a senior JP Morgan banker that the UK
financial regulator this week said constituted market abuse,
people familiar with the matter said.
Ian Hannam quit as JPMorgan’s global chairman of equity
capital markets after the FSA fined him 450,000 pounds
($712,400) for divulging privileged information in two emails in
2008. Hannam, a gruff former special forces soldier, is one of
Britain’s most successful investment bankers and is appealing
against the fine. An independent review is likely to take at
least a year to complete.
LONDON, March 23 (Reuters) – The chief executive squeezed
along the row to a cramped economy-class window seat on an aging
737 flown by one of Italy’s less popular airlines.
He spent the previous hour scanning emails on his BlackBerry
in an airport cafe where all the food came wrapped in
cellophane. The regional airport’s budget doesn’t stretch to the
hospitality lounges usually associated with executive travel.
LONDON, March 21 (Reuters) – A former Russian energy
minister is planning to bid for three refineries owned by
bankrupt oil refiner Petroplus, a source close to the matter
said, giving hope to workers who fear refinery shut downs and
potentially dashing rivals’ expectations that industry
overcapacity might be reduced.
Fund Energy, an investment vehicle founded by Igor Yusufov,
who still sits on board of directors of state-controlled
Gazprom, plans to bid for Petroplus refineries at Coryton in
England, Cressier in Switzerland and Ingolstadt in Germany, the
LONDON, March 16 (Reuters) – The euphoria around a
small-to-medium oil discovery off the southwest coast of Ireland
may be overblown but the country could yet become a significant
producer if it can replicate the drilling success in much deeper
waters to the west.
Providence Resources made headlines around the world and
sent its shares soaring on Thursday by announcing that flow
tests on its Barryroe field showed it could yield
“significantly” more that its earlier estimates of 20,000
barrels per day and reserves of 60 million barrels of oil.