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Saturday, November 25, 2017

Bp Plc News

Nils Smedegaard Andersen (File photo: Danish Maritime Days)

Former Maersk Boss Named Unifeeder Chairman

logistics and shipping industry after stepping down from his position as Group Chief Executive Officer of A.P. Moller - Maersk A/S in 2016. Andersen, who is a board member and strategic adviser to Unifeeder’s largest investor, e.g. Nordic Capital Funds, also serves as Non-Executive Director at BP plc, Non-Executive Director at Unilever as well as Chairman of the Board of international retail group, Dansk Supermarked A/S. “Unifeeder is a well-run company, fulfilling an important role as partner to both global liner shipping companies and industrial customers across Europe,” Andersen

Colombia's Ecopetrol Names New CEO, Echeverry Resigns

Carlos Echeverry. Echeverry, who has headed the company since March 2015, through difficult times caused by the global fall in crude prices, has resigned for family reasons, Ecopetrol said in a statement to the Andean country's financial regulator. Bayon, an engineer who spent 20 years working at BP PLC, will take over from Sept. 15, the company said. He has been a vice president at Ecopetrol since February 2016. Echeverry told Reuters in an interview last week that the company will focus on exploring for unconventional deposits in the center and north of the country over the next few years in

UK's Oil Services Firms to Cut Jobs to Ride Out Price Slump

to cut around 100 offshore jobs and up to 100 more onshore could be affected, a company spokesman said. The company, which employs 20,000 people, did not specify the location of the job cuts.   A day earlier, smaller peer John Wood Group Plc, the Aberdeen-based company whose customers include BP Plc, said it was in consultation with 380 PSN unit employees, or about a fifth of its onshore UK workforce for the unit, and that 80 jobs could be lost.   Britain's North Sea is one of the most expensive exploration areas in the world and has seen oil majors cut hundreds of jobs. The region employs

Schlumberger Slashing 9,000 Jobs

billion charge related to jobs cuts and the writedown of some seismic vessels. "They did say they would be cutting jobs, but the magnitude of them is definitely a shocker," Philip Van Deusen, an analyst with Tigress Financial Partners LLC, told Reuters. A slew of global oil majors such as BP Plc and ConocoPhillips have cut jobs due to a nearly 60 percent slump in oil prices over the past six months. Brent crude closed at $47.67 on Thursday. "If oil prices stay at this level, none of these companies would just be able to adjust with one round of workforce reductions," Robin Shoemaker

Iain Conn, Group Managing Director and Chief Executive, Downstream

Iain Conn to Leave BP

  BP today announced that Iain Conn, Group Managing Director and Chief Executive, Downstream, is leaving the company and is to step down from BP’s board by the end of the year. Conn has had a career of 29 years with BP, serving on the board  for the past 10 years and in his current Downstream role for the past seven. The Downstream comprises BP’s three main global Customer-facing businesses: Fuels, including refining; Lubricants (principally under the Castrol brand); and Petrochemicals. Under Conn’s leadership, BP’s Downstream segment has been repositioned

BHP Billiton Chairman, Jac Nasser,

Changes on BHP Billiton Board

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. Mr Nasser said Ms Frew’s appointment reflected the structured and rigorous approach taken by BHP Billiton to Board succession planning, having regard to the skills, experience and attributes required to effectively

Richard Herbert (Photo: BP)

BP Exploration Boss Leaves in Reorganization

BP's head of exploration Richard Herbert is leaving the British oil major after slightly more than two years in the job, a period in which the company slashed spending on the search for new deposits.   Herbert, a BP veteran and a long-time ally of Chief Executive Bob Dudley, rejoined BP in October 2013 after several years at rival Talisman Energy. His task was to lead exploration activity to help the firm rebuild investor confidence following a deadly U.S Gulf oil spill in 2010.   But as oil prices began to crash from mid-2014 and BP had to shed assets to pay off some $50 billion in U.S.

Richard Adam (Photo: BMT)

Adam Joins BMT Board

;   Qualifying as a chartered accountant in 1982, Adam has a wealth of financial acumen, M&A and international business experience, having served as finance director of private and listed businesses for nearly 30 years. From 2007 until retiring in 2016 he was group finance director of Carillion plc and previously, he held the same role at Associated British Ports Holdings plc for seven years. Adam currently serves as a nonexecutive director and chairman of the audit committee of Countryside Properties plc, Countrywide plc and FirstGroup plc.

BP to Cut 30% of its Upstream IT Staff

British oil and gas explorer BP will cut around 30 percent of IT jobs in its international upstream division following a review of its support services, a source familiar with the situation said.   BP confirmed its support service review may result in IT job losses, but declined to comment on the number of employees concerned.   "This review by upstream IT leadership is ongoing but we do expect it may result in a reduction in the number of roles over the next year or so," said a BP spokesman.   A source with direct knowledge of the situation said 30 percent of IT

BP Names New Group Chief Economist

BP today announced the appointment of Spencer Dale as its new Group Chief Economist with effect from the end of October. Mr Dale joins BP from the Bank of England where he is currently Executive Director for Financial Stability Strategy and Risk. He is also a member of the Bank’s Financial Policy Committee. In his previous capacity as the Bank’s Chief Economist, Mr Dale served for six years on the Monetary Policy Committee. Since joining the Bank in 1989, Mr Dale’s roles included working as private secretary to former Governor Mervyn King and a secondment as a visiting Senior

Photo: UK Chamber of Shipping

UK Shipping Seeks to Double Seafarer Training Fund

 The UK Chamber of Shipping, with backing from 40 shipping companies, has this week written to the Secretary of State for Transport, Chris Grayling, asking the Government to double the amount of funding available for seafarer training as soon as possible.    The letter was also sent to the Chancellor of the Exchequer, Philip Hammond and the Minister of State, Department for Transport, John Hayes.    The UK Chamber, in conjunction with Nautilus International, has submitted a proposal for the Government's existing Support for Maritime Training (SMarT) scheme to be extended.

Gunvor Hires BP's Former Top US Trader

Gunvor has hired a senior veteran oil trader, David Garza, previously with BP and most recently U.S. oil refiner Tesoro, to run its U.S. operations as the Swiss trading house further expands in North American energy markets. Gunvor began building its U.S trading operations last year, expanding outside its core markets in Europe, Asia and Africa. The company initially focusing on refined products and natural gas but this year has hired several traders to launch a crude oil desk in Houston, Texas, and beefed up its Canadian trading desk. Garza will start in September as the new managing director

Stephen Xuereb

Xuereb Named CEO at Valletta Cruise Port

Valletta Cruise Port plc the operator of the Valletta Cruise Terminal and of the Valletta Waterfront announces the appointment of Stephen Xuereb as the Chief Executive Officer of the Group with effect from June 1, 2014. Xuereb succeeds John Portelli who has been at the helm of the company over the past five years. Xuereb, a Fellow of the Chartered Institute of Accountants and a Henley MBA graduate, played a central role in Valletta Cruise Port plc’s success (formerly Viset Malta plc) since its inception in 2002. Xuereb’s current role is that of group’s Chief Finance Officer

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Rolls-Royce Appoints Ruth Cairnie as Non-Executive Director

  Rolls-Royce is pleased to announce that Ruth Cairnie has been appointed as a Non-Executive Director of the Company with effect from 1 September 2014. Ruth Cairnie was formerly Executive Vice President Strategy & Planning at Royal Dutch Shell Plc, where she held a number of senior international roles, including managing the Global Commercial Fuels business. She served on the boards of Shell Pakistan Ltd and joint venture companies in Germany and Thailand. She is currently a Non-Executive Director of Associated British Foods plc and Keller Group plc. She is also a member of the Advisory

Sir Frank Chapman

Golar LNG to Appoint Sir Frank Chapman as Chairman

  Rolls-Royce Holdings plc reports that Golar LNG Limited has announced its intention to propose the appointment of Sir Frank Chapman as its Chairman, conditional upon the closing of the Secondary Offering recently announced by Golar LNG Limited.   Sir Frank Chapman is a non-executive director, and chair of the safety and ethics committees, of Rolls-Royce Holdings plc.   This disclosure is made pursuant to paragraph 9.6.14 (2) of the Listing Rules. Golar LNG Limited is listed on the NASDAQ Stock Market.

Stephen Daintith Photo courtesy DMGT

Daintith Named CFO, Rolls-Royce

Rolls-Royce announced that Stephen Daintith has been appointed Chief Financial Officer and as an executive director of Rolls-Royce Holdings plc. Stephen will take up his new role in 2017, succeeding David Smith who will leave Rolls-Royce after three years to pursue other business interests. David will remain in post into the New Year to ensure an effective transition.*   Stephen Daintith is currently Chief Financial Officer of Daily Mail & General Trust plc. Previously he was employed by News International as Chief Financial Officer and Chief Operations Officer of Dow Jones & Co. His

Photo: BP

BP Hires Head of US Shale Unit before Spin-off

Oil major BP has appointed a chief executive to look after its U.S. onshore oil and gas assets, months ahead of its plan to spin off the business to boost the profitability of its shale gas portfolio in the country. SandRidge Energy Inc's former Chief Operating Officer David Lawler will take on the Houston-based role on Sept. 15. He will head the new business - called U.S. Lower 48 Onshore - which includes unconventional resources of around 7.6 billion barrels of oil equivalent across 20,000 wells. Lawler has decades of experience in the U.S. energy market after working at Shell, ConocoPhillips

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