Talisman Energy Inc.

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Talisman Energy Inc. is a Calgary, Alberta, "Canadian-based, international upstream oil and gas producer with operations in Canada, the North Sea and Indonesia." Talisman was "also conducting exploration in Algeria and Trinidad. Talisman's shares are listed on the Toronto, Montreal and Vancouver stock exchanges in Canada and the New York Stock Exchange in the United States under the symbol TLM." [1]

Talisman acquired Arakis Energy Corporation "in a friendly merger" in October 1998. [2]

In March 2003, due to pressure from human rights organizations, Talisman "sold its stake" in the Greater Nile Petroleum Operating Company (GNPOC) consortium to India's national oil company Oil and Natural Gas Corp (ONGC) Videsh. [3] The consortium had consisted of Arakis (25% share and field operator), CNPC (China) (40%), Petronas (Malaysia) (30%), and the Sudanese national oil firm Sudapet (5%). [4]

Sudan: Human rights violations

Talisman was "criticized over the years by a number of groups for its participation in the Greater Nile oil project, which many say perpetuates the civil war in Sudan--Africa's longest civil war. According to human rights groups, the oil project is a revenue-generator for the National Islamic Front regime in Khartoum, which has publicly declared its ambitions for these revenues, to be used to assist themselves in fighting the Christian minority in the south." --Canadian Chemical News, September 2002.

Also see section "Human Rights in Sudan" in Arakis Energy Corporation.

PR victories

In April 2008, the advocacy group Transparency International "named Talisman and Norway's state-owned StatoilHydro as the world leaders in their commitment to openness and anti-corruption measures," reported the Globe and Mail. "Huguette Labelle, chairwoman of Transparency International, said the company illustrated that it learned some valuable lessons after finding itself in the middle of a civil war in Sudan. (Its retreat from that oil-rich country was more than offset by growing Chinese and Indian investment.)" [1]

Other "strides in repairing its reputation" include Talisman's joining the United Nations Global Compact in 2004. This voluntary commitment "lays out guidelines for international companies to follow in the areas of human and labour rights, environmental practices and corporate governance." In 2007, Talsiman "was added to the Jantzi Social Index, which a Toronto-based investment index for people who want to put their money in socially responsible companies. [1]

Peru: Controversial rainforest drilling

At Talisman's April 2008 annual meeting, "a group of Amazonian natives" demonstrated against "Talisman's operations in Peru, which include plans to drill in pristine tropical rain forest of the Pastaza and Marona River basins." [1]

"Company spokeswoman Teri Keyser said Talisman conducted extensive consultations and received more than two-thirds approval in votes in local communities before commencing operations there. However, Andrew Miller, an American spokesman for the native protesters, said the consultations were restricted to local communities and the Achuar population of the broader region are opposed to development." [1]

Personnel

Directors

Accessed January 2011: [2]

In their 2010 annual report their president noted that: "Our Board is also seeing a natural transition. Stella Thompson, Bob Welty, and Chuck Wilson will retire this year after many years of dedicated service to the company, and I’d like to thank each of them for their contribution to the past success of Talisman and their support of the strategic redirection we are now implementing."

SourceWatch resources

External links

References

  1. ↑ 1.0 1.1 1.2 1.3 Shawn McCarthy, "From bad boy to poster boy: Talisman's journey: Once heavily criticized, it's now praised for transparency and anti-corruption in oil industry; company facing new challenges in Peru," Globe and Mail (Canada), April 30, 2008.
  2. ↑ Board, Talisman Energy, accessed January 26, 2011.

Articles

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