BP to Pay Investors $175m Over Deepwater Horizon Oil Spill
Sunday, 5th June 2016
BP has agreed to pay $175m to settle claims that it deceived shareholders by underplaying the severity of the 2010 Gulf of Mexico oil spill. Their claim was based on the allegation that BP publicly “lowballed” the amount of oil flowing from its Macondo well.
Sasol’s Executives Earnings Debated
Tuesday, 8th December 2015
South African Sasol group’s annual general meeting (AGM) was shaken with a decision issued by the remuneration committee to change the key performance indicators (KPIs) for executives, in a year when company earnings were hit by a slump in oil prices.
After Effects of Petrobras Scandal Spreads to US and UK
Tuesday, 31st March 2015
Investors in Petroleo Brasileiro SA, the state-run oil company at the center of a kickback scandal in Brazil, expanded their lawsuit against the company by adding claims that auditor PricewaterhouseCoopers LLP turned a “blind eye” to the fraud and “ignored obvious red flags.”