Energy Daily: Davey warns Scots of energy bills threat, Eon report...

 
 
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Friday November 29 2013
 
 
Energy
 
Davey warns Scots of energy bills threat
 
Voters in next year's referendum have been told that a breakaway Scotland may have to shoulder a higher proportion of UK renewable subsidies
 
 
 
Eon reported to be selling Italian unit
 
 
US crude oil falls to record discount
 
 
South West Water to freeze bills
 
 
PetroChina buys Iraq oilfield stake
 
 
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Oil & Gas
 
Coping with stress in the energy sector
 
Executive life in the industry is not as glamorous as it can sometimes seem, and many must adapt to a climate in which they are openly vilified
 
 
 
Oil & Gas M&A: empty pipeline
 
 
Oil traders join forces with Nigerians
 
 
Repsol shareholders call shots on YPF
 
 
Rise in US oil stocks sends price lower
 
Mining
 
Rio Tinto: pedal to the metal
 
The Anglo-Australian company's plans for its Pilbara project shows that miners are listening to shareholder pressure to slim down
 
 
 
Peru's middle class prospers from boom
 
 
Rio Tinto to expand iron ore production
 
 
Vale to pay $9.6bn to end tax dispute
 
Nick Butler
 
Coping with stress at the top of the energy sector
 

Few readers, even of the Financial Times, will feel much sympathy for executives in the international energy business who complain about their lot. Paid in the hundreds of thousands (at least), travelling around in executive jets and chauffeured cars, pampered by executive assistants and personal assistants – life surely can’t get much better.

But there is a real and serious problem that merits some attention. Many senior executives are exhausted and burnt out. Across the business world, there have recently been a number of high-profile cases of executives who have given up their jobs because of the stresses involved. António Horta-Osório, chief executive of Lloyds Banking Group, and Hector Sants, former head of compliance at Barclays, are the most prominent names. In the energy sector, companies and individuals shun publicity. But, in the past few weeks, I have heard of four cases of individuals who have in one way or another collapsed under the pressure of their jobs. One leading company is undertaking a thorough analysis of the psychological health of its top 50 people, and I would be surprised if others don’t follow.

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