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Share Oil Search managing director Keiran Wulff has resigned suddenly after complaints about his behaviour and ill health, throwing the Papua New Guinean oil and gas producer into uncertainty. Shares in Oil Search slid as much as 2.6 per cent in early trading on the shock news, which adds to the upheaval taking place more broadly across the leadership of the energy sector. “After considerable reflection and consultation with my family and others including my medical advisers, it is an appropriate time to leave to focus on my health,” he said in a statement on Monday. Oil Search’s Keiran...

Oil Search in a mess as poor behaviour sinks CEO The shock resignation of Oil Search managing director Keiran Wulff after a whistleblower complaint leaves a huge mess for chairman Rick Lee to clean up.  Updated Save Share When the $8 billion oil and gas producer Oil Search posted its June investor presentation to the ASX platform, the slide entitled “the future of Oil Search” made clear the four cornerstones of the company’s investment case. A resilient balance sheet and capital discipline. Delivery on its sustainability commitments. An inclusive and diverse workforce. And ...

UBS can no longer ignore its past misdeeds If UBS chooses not to engage with the PNG royal commission, it will almost certainly find the $1.3 billion loan was unconstitutional, charged excessive interest and was “false and miss-leading”. Jul 16, 2021 – 3.29pm Save Share For the past four months, a royal commission into an eight-year-old deal most Australians have never heard of, in a country that rarely rates a mention, has been quietly chipping away. James Renwick, counsel assisting the royal commission, has outplayed UBS.  Forced online by COVID-19, the inquiry into a $1.3...

AGL to split from coal plants in demerger Updated Save Share Embattled electricity giant AGL Energy will split itself in two separately listed businesses to better handle the rapidly transforming energy market, separating its base coal power plants into a new company, Accel Energy, to be headed by existing interim CEO Graeme Hunt. The retail business backed up by renewables generation and gas power – and with a carbon-neutral portfolio in terms of direct emissions – will be called AGL Australia and will be headed by AGL’s existing chief customer officer, Christine Corbett as CEO. AGL�...

AGL (ASX:AGL) share price on watch following demerger update Another ASX 200 company is planning to split into two… James Mickleboro has been a Motley Fool contributor since late 2015. After studying economics at university back home in the United Kingdom, James came to live in Australia and managed to land a job at an Australian fund manager. This was the start of a love affair with Australian equities and he hasn't looked back since. James is part of the CFA Institute's Chartered Financial Analyst program and hopes it teaches him how to become an astute investor which allows him to help o...