Governance issues could mar Essar IPO April 8, 2010 LONDON scored a coup as Indian industrial giant Essar yesterday said it would list its energy business on the Stock Exchange, though concerns rippled through the market over the extent of the subsidiary’s independence from its powerful parent. Essar said it would float between 20 to 25 per cent of the energy division Essar Energy [...]
Strand founder strikes back at legal claim over Sibir fees July 26, 2010 ADVISERS acting for Strand Partners founder and former chairman Richard Fenhalls have hit back at claims he owes the firm a share of the £7.6m in advisory fees paid to him last year by oil firm Sibir Energy. Strand Partners – now named Strand Hanson – has initiated legal proceedings against Fenhalls to try and [...]
Strand Hanson in legal claim over £7.6m fee paid to firm’s founder July 25, 2010 CORPORATE advisory firm Strand Hanson has initiated legal proceedings against its founder and former chairman, claiming he owes the firm a share of £7.6m in advisory fees he raked in last year when working for oil company Sibir Energy. Richard Fenhalls, who launched Strand Hanson – then named Strand Partners – 17 years ago, is [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 5, 2010 FINANCIAL TIMES DUBAI WALTH FUND BUY-OUT HEAD SWITCHES TO CARLYLE Carlyle, the US-based private equity group, has poached Eric Kump, head of Dubai International Capital’s European private equity team, leaving the sovereign wealth fund with a troubled portfolio and lacking funds for new deals. Mr Kump will on Tuesday be unveiled by Carlyle as a [...]
Hayward: I was vilified over spill July 27, 2010 OUTGOING BP boss Tony Hayward yesterday claimed he was “demonised and vilified” over the firm’s Gulf of Mexico oil spill crisis. But the embattled leader, who is set to hand over the chief executive role in October to BP’s managing director Bob Dudley, accepted the company could not move forward with him at the helm. [...]
Hayward: I was vilified over spill July 27, 2010 OUTGOING BP boss Tony Hayward yesterday claimed he was “demonised and vilified” over the firm’s Gulf of Mexico oil spill crisis. But the embattled leader, who is set to hand over the chief executive role in October to BP’s managing director Bob Dudley, accepted the company could not move forward with him at the helm. [...]
Bob Dudley gets another chance to succeed in Russia’s oil market January 17, 2011 BP’s latest attempts to expand in Russia will be a chance for chief executive Bob Dudley to mend his relationship with the country, following his troubled time as president of TNK-BP, the firm’s ongoing joint venture in the country. Dudley was forced to leave Moscow in 2008 when his visa was not renewed, following a [...]
Bob Dudley gets another chance to succeed in Russia’s oil market January 17, 2011 BP’s latest attempts to expand in Russia will be a chance for chief executive Bob Dudley to mend his relationship with the country, following his troubled time as president of TNK-BP, the firm’s ongoing joint venture in the country. Dudley was forced to leave Moscow in 2008 when his visa was not renewed, following a [...]
BP shares set to fall after plug bid fails May 31, 2010 SHARES in BP are expected to plummet today as news of the failed “top kill” attempt to stem the leak of oil into the Gulf of Mexico hits the UK and US markets when they re-open after the long weekend. Analysts predict that should the markets remain stable, it is likely that BP shares will [...]
FSA fines ex Sibir chief for market abuse July 6, 2010 A DAMAGING corporate ruse was finally rumbled yesterday after the City regulator slapped a £350,000 fine on Henry Cameron, the former chief executive of oil company Sibir Energy. Last year, Sibir was embroiled in controversy over debts owed to the company by Russian tycoon Chalva Tchigirinski, one of its major shareholders. Sibir informed the market [...]