Sunday, 14 November 2010

Boycott Tullow Oil

This entry is included for completeness so that the companies of all 35 fat cats can be profiled. It is not completely clear what the mechanics of boycotting Tullow Oil would involve as I've been unable to establish their supply chain.

Tullow Oil is the largest independent oil company in Britain and has a market valuation of $13bn (£7.8bn) (2009 valuation). It operates in 22 countries. Its largest activities are in Africa, where it first explored gas fields in Senegal and has discovered new oil provinces in Ghana and Uganda, produces oil and gas in five countries and has exploration projects in 13 countries.

In 2000 it bought BP's North Sea Gas Fields for £200m. Tullow Oil's big gamble came in 2004 when it bought Energy Africa. The deal doubled the company's size and gave it a large presence in Africa.

Tullow Oil plc is one of the largest independent oil and gas exploration and production companies in Europe. The Group has interests in over 85 exploration and production licences across 23 countries and focuses on four regions: Africa, Europe, South Asia and South America. The Group has production from eight countries and two development projects in Ghana and Uganda where it has discovered new oil provinces.

Aidan Heavey is from Castlerea, Co. Roscommon and educated at Clongowes Wood College in County Kildare and at University College, Dublin. He trained with R. J. Kidney & Co. from 1974 to 1978 when he qualified as an accountant. He left R. J. Kidney & Co. in 1979 to join Aer Lingus as a Financial Controller before joining Tullow Engineering in 1981.

Tullow Engineering was a small family-owned firm based near Dublin. The firm had a subsidiary, Tullow Oil, running fuel oil tankers. Heavey decided to buy out the subsidiary, relaunching the company in 1985 as an oil-producing company with horizons far beyond the shores of Ireland.

He got the idea after being tipped off by a banker who told him that the world was littered with valuable oil fields that were ignored by big companies because they were too small. Heavey plumped for Senegal to base his new venture, even though he was not entirely sure where it was.

He mortgaged himself up to the hilt and sold his collection of vintage cars to raise the cash for the new company.

A founding Director and shareholder of the Group, Aidan Heavey has played a key role in the development of Tullow from its formation in 1985, to its current international status as a leading independent oil and gas exploration and production group. A Chartered Accountant, he previously held roles in the airline and engineering sectors in Ireland. Aidan is a director of Traidlinks, an Irish-based charity established to develop and promote enterprise and diminish poverty in the developing world, particularly Africa.

Aidan Heavey's pay at Tullow Oil is £1,525,378 as of 2009.

On 18th October, Aidan Heavey signed an open letter calling on the Chancellor to continue the coalition government's plans to reduce the public finance deficit in one term, plans which included swingeing cuts on the poorest members of society and which risk pushing this country into a double-dip recession, the likes of which has not been seen since the last time the tories took power and tanked the economy in the early 80's.

For this reason Aidan Heavey is considered to be a fully signed up member of the Big Business Society and we urge people to boycott Tullow Oil.

 Added 16th July 2013 : -

When  looking for something else I came across this page 

It would appear Aidan Heavey's links with the Conservative party extend to funding  Michael's Gove's Surrey Heath Constituency to the tune of £10,000 between May 2010 and October 2011. I wonder what he got for that,  I think I'll start investigating some of the other signatories and see which MP's have lined their pockets, or those of their associations, with the cash of people with the aim of destroying our public services.

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