Michael Nolan News
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John Craven, the oil executive who presided over a 20-fold jump in value at Cove Energy Plc, will use his experience in East Africa to set up an oil and gas exploration company focused on the region.
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Groupon Inc. accused two former sales managers in a lawsuit of taking confidential trade secrets with them when they quit the Internet coupon company to join a competing venture run by Google Inc.
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For Ger Boland, the Irish village of Prosperous is still a long way from living up to its name.
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Venezuela will pull out of a World Bank-affiliated arbitration panel and won’t accept any of its rulings, including a multi-billion claim for a nationalized oil project by Exxon Mobil Corp., President Hugo Chavez said.
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Repsol YPF SA, the Spanish oil explorer seeking $10.5 billion from Argentina for seizing its assets, will line up behind companies from Exxon Mobil Corp. to Unisys Corp. yet to be repaid by the most-sued nation on earth.
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Former executives from Cove Energy Plc are starting a new oil and gas exploration firm focused on Africa after selling the London-based company for $1.9 billion to Thailand’s PTT Exploration and Production Pcl earlier this year, people familiar with the group’s plans said.
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Former Groupon Inc. sales managers countersued the company, which had accused them of taking trade secrets to Google Inc.
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In the midst of a summer heat wave, Australia is suffering a soft-drink shortage because of a disruption in supplies of the gas that gives soda its fizz. Schweppes Australia Pty. is already losing sales and Coca-Cola may be affected next.
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Petroleos de Venezuela SA, the state oil company, said it paid Exxon Mobil Corp. $250.9 million for assets seized in the country in 2007.
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Venezuela will need as many as 15 years to renegotiate bilateral investment treaties before it can leave the World Bank arbitration court, said Prosecutor General Carlos Escarra.
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