All Energy & Utilities articles
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ArticleGDPR enforcement roundup: Austrian Post facing new record fine
The Austrian Post is once again appealing what would be a record GDPR fine in the country after successfully defending itself in the first instance. Other recent decisions under the law provide further enforcement trends.
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Ex-Braskem CEO gets 20 months in prison over bribery scheme
Jose Carlos Grubisich was sentenced to 20 months in prison for his role in a scheme to divert hundreds of millions of dollars in bribe payments from Braskem to government officials and political parties in Brazil.
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Petrobras fulfills obligations of 3-year FCPA agreement
Brazilian state-owned energy company Petrobras announced it has met the obligations of a three-year agreement reached with the Department of Justice for playing a role in one of the world’s largest political corruption investigations.
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NOV announces chief accounting officer succession
Energy technology company NOV announced Christy Novak will succeed Scott Duff as vice president, corporate controller and chief accounting officer, effective Nov. 1.
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How ContourGlobal, Osprey have established effective ESG programs
Crafting an effective environmental, social, and governance program is not an easy feat. At CW’s “Everything ESG” virtual event, compliance/sustainability leaders from ContourGlobal and Osprey shared how they are successfully working to meet their goals.
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FirstEnergy names chief risk officer
FirstEnergy Corp. appointed Soubhagya Parija vice president and chief risk officer the same day it agreed to pay $230 million as part of a settlement to resolve its part in Ohio’s nuclear bailout corruption scandal.
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FirstEnergy to pay $230M in Ohio corruption settlement
FirstEnergy Corp. agreed to pay a $230 million criminal penalty as part of a settlement with the U.S. Attorney’s Office for the Southern District of Ohio surrounding the state’s nuclear bailout federal corruption scandal.
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FirstEnergy could face DPA in corruption scandal settlement
FirstEnergy has begun discussions with the U.S. Attorney’s Office regarding resolution of the Ohio nuclear bailout federal corruption scandal, including possibility of a deferred prosecution agreement.
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Ex-Braskem CEO pleads guilty for role in bribery scheme
The former CEO of Brazilian petrochemical giant Braskem pleaded guilty for his role in a scheme to divert hundreds of millions of dollars in bribe payments from the company to government officials and political parties in Brazil.
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Duke Energy names new chief accounting officer
Duke Energy has appointed Cindy Lee as vice president, chief accounting officer and controller, effective May 16.
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OFAC fines Nordgas $950K for Iran sanctions violations
Italian company Nordgas, a producer and seller of components for gas boiler systems and applications, has agreed to pay $950,000 for apparent sanctions violations related to the sale of air pressure switches in Iran.
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Corruption-embroiled FirstEnergy names chief ethics and compliance officer
FirstEnergy named Antonio Fernández vice president and chief ethics and compliance officer, effective April 12. His appointment comes amid U.S. government scrutiny over a corruption scandal.
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Braskem self-reports probe into ‘improper payments’
Brazil-based petrochemical giant Braskem disclosed the launch of an internal investigation into allegations of “improper payments” related to an ethane supply project in Mexico.
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Baker Hughes facing sanctions-related SEC probe
Baker Hughes is being investigated by the SEC related to “books and records and internal controls regarding sales of its products and services in projects impacted by U.S. sanctions.”
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SEC charges Gulfport, former CEO with failing to disclose executive perks
The SEC settled charges against gas exploration and production company Gulfport Energy and its former CEO Michael Moore for failing to properly disclose as compensation certain perks provided to Moore and related personal expenses.
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EPA’s toxic love affair with high-polluting industries needs to end
A last-minute rule change by the EPA tucked into the Federal Register without a public comment period is the culmination of a years-long chumminess with high-polluting industries that can’t end soon enough, writes Jaclyn Jaeger.
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Third time’s a charm? SEC adopts controversial extraction rules
After two failed iterations, the SEC has approved revamped rules laying out what commercial oil, natural gas, and mineral extraction companies must disclose about payments they make to U.S. and foreign governments.
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GE settles SEC accounting probe for $200M
General Electric agreed to pay $200 million to settle charges brought by the Securities and Exchange Commission regarding a series of accounting violations at its power and insurance businesses.
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Top ethics and compliance failures of 2020
From a massive accounting fraud scandal in Germany to deceitful consumer tactics among China-based companies to unethical practices on the environmental front in the United States—CW’s list of the top ethics and compliance failures of 2020 spans the globe.
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Energy trader Vitol to pay $164M in FCPA case
The U.S. affiliate of global energy and commodity trading company Vitol will pay approximately $164 million to settle charges of bribery, corruption, and manipulative and deceptive conduct levied by multiple regulators, including historic involvement by the CFTC.
