Origin Energy Ltd. Managing Director Grant King, head of Australia’s largest electricity company since 2000, will be replaced by its energy markets head, Frank Calabria, the company said Friday.
Statoil's chief executive will visit the Gullfaks B platform today and meet with colleagues of those who died in a North Sea helicopter crash.
Industry regulator the OGA (Oil and Gas Authority) has outlined its corporate plan for the next five years.
Beach Energy has appointed a new chief executive to lead the company. Matthew Kay will take over from July with more than 25 years’ experience in the oil and gas industry.
Saudi Arabia’s move to maintain its share of the global oil market and expand in Europe will backfire, said the chief executive officer of Russia’s largest oil producer. “The strategy that Saudi Arabia has chosen doesn’t bring any significant victories,” Igor Sechin, CEO of OAO Rosneft, said Thursday at the Eurasian Forum in Verona, Italy. “More likely the opposite.” After the US cut imports amid a boom in domestic production, exporters from the Middle East are increasing output and seeking new markets, a move that isn’t helpful for the global industry, Sechin said.
Volkswagen’s top US executive has apologised as the emissions-rigging scandal engulfing the world’s largest carmaker deepened and members of Congress said the company violated the public’s trust. “On behalf of our company, my colleagues in Germany and myself, I would like to offer a sincere apology for Volkswagen’s use of a software program that served to defeat the regular emissions testing regime,” Volkswagen of America chief executive Michael Horn told a House subcommittee. Calling the company’s admission “deeply troubling”, Mr Horn said: “We have broken the trust of our customers, dealerships and employees, as well as the public and regulators.”
Volkswagen is set to name Matthias Mueller as its new chief executive after the company was embroiled in a scandal over an alleged US vehicle emissions test rigging. The head of the Porsche sports car brand has been widely tipped to succeed Martin Winterkorn who stepped down from his role earlier this week. Officials in both Europe and the United States have stepped up their investigations into the scandal.
I’ve received many questions following recent articles on how to manage during difficult times. Readers are asking what specific things they could do, or I have done, or we are planning to turn the generic advice into practical measures. Well, I suppose it all depends. My business situation will be different from everyone else’s, so my decisions may or may not be relevant to others, but I am happy to share some of the tactical options we took to make our business less vulnerable during the current downturn in our industry.