Blog

June 29, 2015 ENERGY (MSM)

Ghana replaces head of troubled Tema oil refinery

Ghana’s President John Mahama has replaced the head of the Tema Oil Refinery, the presidency said on Monday, in yet another management change at the cash-strapped 45,000 barrel-per-day plant. The facility, Ghana’s sole refinery, has been plagued with regular shutdowns due to lack of funds for its operations and for the supply of crude for processing. The new managing director, Kingsley Awuah-Darko, will be the refinery’s seventh managing director in

June 29, 2015 ENERGY (MSM)

Oil companies played hardball in bid to defeat climate outsiders

Led by New York City Comptroller Scott Stringer and proposed at 75 U.S. companies in various industries this year, the so-called proxy access measure would give investor groups who own 3 percent of a company for more than three years the right to nominate directors. At the 19 oil and gas companies targeted, the aim was to demand more accountability on global warming. While the non-binding measure passed at two-thirds

June 28, 2015 MONEY (MSM)

Greece considers capital controls, closing banks on Monday

ATHENS/FRANKFURT (Reuters) – Greece said it may impose capital controls and keep its banks shut on Monday after creditors refused to extend the country’s bailout and savers queued to withdraw cash, taking Athens’ standoff with the European Union and the International Monetary Fund to a dangerous new level. Greece’s banks, kept afloat by emergency funding from the European Central Bank, are on the front line as Athens moves towards defaulting