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Russia: Marsh Warns of New Russian Liability Law

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Insurance broking and risk management firm Marsh has warned that a new law on the management and of plants dealing in hazardous materials will have significant implications for companies trading in the Russian Federation. The law, which came into force on January 1, will have violation penalties applying from April 1, and stipulates that owners of plants that handle hazardous materials must have liability insurance for bodily injury to workers, along with nearby inhabitants and their property.

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Romania: OMV to Fight Antitrust Fines

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OMV has confirmed that it plans to fight fines levied by Romania's main competition watchdog, the Competition Council, in court. The company, responding to an announcement that OMV Petrom SA and OMV Petrom Marketing SRL are among several firms being fined a total of 880m lei by the regulator, said that both subsidiaries felt the fines were unjustified. 

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Total Names New Members of Management Team

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Total has named two new members to its senior management team, designating Humbert de Wendel as Senior Vice President of Finance and Cash Management and Corporate Treasurer and Françoise Leroy as head of Mergers and Acquisitions. Leroy, who previously acted as Corporate Secretary of the Chemicals Segment, replaces de Wendel as he moves to his new role. 

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