SUMMARY / RELATED TOPICS

European Economic Community

The European Economic Community was a regional organisation that aimed to bring about economic integration among its member states. It was created by the Treaty of Rome of 1957. Upon the formation of the European Union in 1993, the EEC was incorporated and renamed the European Community. In 2009, the EC's institutions were absorbed into the EU's wider framework and the community ceased to exist; the Community's initial aim was to bring about economic integration, including a common market and customs union, among its six founding members: Belgium, Italy, the Netherlands and West Germany. It gained a common set of institutions along with the European Coal and Steel Community and the European Atomic Energy Community as one of the European Communities under the 1965 Merger Treaty. In 1993 a complete single market was achieved, known as the internal market, which allowed for the free movement of goods, capital and people within the EEC. In 1994 the internal market was formalised by the EEA agreement.

This agreement extended the internal market to include most of the member states of the European Free Trade Association, forming the European Economic Area, which encompasses 15 countries. Upon the entry into force of the Maastricht Treaty in 1993, the EEC was renamed the European Community to reflect that it covered a wider range than economic policy; this was when the three European Communities, including the EC, were collectively made to constitute the first of the three pillars of the European Union, which the treaty founded. The EC existed in this form until it was abolished by the 2009 Treaty of Lisbon, which incorporated the EC's institutions into the EU's wider framework and provided that the EU would "replace and succeed the European Community"; the EEC was known as the Common Market in the English-speaking countries and sometimes referred to as the European Community before it was renamed as such in 1993. In 1951, the Treaty of Paris was signed, creating Steel Community; this was an international community based on supranationalism and international law, designed to help the economy of Europe and prevent future war by integrating its members.

In the aim of creating a federal Europe two further communities were proposed: a European Defence Community and a European Political Community. While the treaty for the latter was being drawn up by the Common Assembly, the ECSC parliamentary chamber, the proposed defense community was rejected by the French Parliament. ECSC President Jean Monnet, a leading figure behind the communities, resigned from the High Authority in protest and began work on alternative communities, based on economic integration rather than political integration. After the Messina Conference in 1955, Paul Henri Spaak was given the task to prepare a report on the idea of a customs union; the so-called Spaak Report of the Spaak Committee formed the cornerstone of the intergovernmental negotiations at Val Duchesse conference centre in 1956. Together with the Ohlin Report the Spaak Report would provide the basis for the Treaty of Rome. In 1956, Paul Henri Spaak led the Intergovernmental Conference on the Common Market and Euratom at the Val Duchesse conference centre, which prepared for the Treaty of Rome in 1957.

The conference led to the signature, on 25 March 1957, of the Treaty of Rome establishing a European Economic Community. The resulting communities were the European Economic Community and the European Atomic Energy Community; these were markedly less supranational than the previous communities, due to protests from some countries that their sovereignty was being infringed. The first formal meeting of the Hallstein Commission was held on 16 January 1958 at the Chateau de Val-Duchesse; the EEC was to create a customs union while Euratom would promote co-operation in the nuclear power sphere. The EEC became the most important of these and expanded its activities. One of the first important accomplishments of the EEC was the establishment of common price levels for agricultural products. In 1968, internal tariffs were removed on certain products. Another crisis was triggered in regard to proposals for the financing of the Common Agricultural Policy, which came into force in 1962; the transitional period whereby decisions were made by unanimity had come to an end, majority-voting in the Council had taken effect.

Then-French President Charles de Gaulle's opposition to supranationalism and fear of the other members challenging the CAP led to an "empty chair policy" whereby French representatives were withdrawn from the European institutions until the French veto was reinstated. A compromise was reached with the Luxembourg compromise on 29 January 1966 whereby a gentlemen's agreement permitted members to use a veto on areas of national interest. On 1 July 1967 when the Merger Treaty came into operation, combining the institutions of the ECSC and Euratom into that of the EEC, they shared a Parliamentary Assembly and Courts. Collectively they were known as the European Communities; the Communities still had independent personalities although were integrated. Future treaties granted the community new powers beyond simple economic matters which had achieved a high level of integration; as it got closer to the goal of political integration and a peaceful and united Europe, what Mikhail Gorbachev described as a Common European Home.

The 1960s saw the first attempts at enlargement. In 1961, Ireland and the United Kingdom applied to join the three Communities. However

Addax Petroleum

Addax Petroleum was established in 1994 and since August 2009 has been a subsidiary of the Sinopec Group, one of the largest oil and gas producers in China, the biggest oil refiner in Asia and the third largest worldwide. Addax Petroleum was an international gas and oil production and exploration company focused on the Middle East, the North Sea and Africa. Since 1994, the company become one of the largest oil producers in West Africa. Addax Petroleum was part of the Addax & Oryx Group of Companies, founded in 1987. In 1989 AOG embarked on an ambitious expansion programme with the aim of becoming a vertically integrated oil company focused on the African continent; this led to the creation of Addax Petroleum in 1994 by Marc Lorenceau, a partner from the AOG trading group. Addax's initial steps in the upstream business was the acquisition of the Espoir field offshore Ivory Coast, relinquished by Phillips in 1988. Four years Addax Petroleum sold its remaining equity in the Espoir field to CNR. In 1998, as oil prices were dropping, Ashland Oil Nigeria was for sale as the company wanted to leave the country's upstream sector.

Perenco appeared to be the best bidder for Ashland's assets. However, the bidding process was overturned and these assets were awarded to Addax Petroleum for the official amount of twenty million US dollars. After the tragic death of Mr. Lorenceau in a ski accident in late 2001, Jean Claude Gandur became the company's Chairman and CEO until the takeover by the Sinopec Group in August 2009. At Sinopec's take over, Mr. Geng Xianglang was appointed CEO, followed by Mr. Zhang Yi in 2010. Mr. Geng Xianglang remains as Chairman of the board 1994: Addax Petroleum founded. PSC for Espoir field in Ivory Coast 1998: Acquisition of Ashland Nigeria assets. Company average production of 8,800 barrels of oil per day 1999: First drilling campaign in OML 123, offshore Nigeria 2000: OML 123 Ebuguu Northeast discovery, offshore Nigeria 2001: OML 123 Adanga South discovery, offshore Nigeria. Death of founder Marc Lorenceau. 2002: Company average production of 40,000 barrels of oil per day. Ngosso Concession Agreement signed, offshore Cameroon 2003: OML 123 Oron West & North discoveries, offshore Nigeria.

OML 124 drilling campaign, onshore Nigeria 2005: Company average production of 75,000 barrels of oil per day. First Oil in OPL90 Okwori field, offshore Nigeria. 3 PSCs signed in the Nigeria/São Principe Joint Development Zone. Farm-in Agreement signed on Taq Taq field, Kurdistan Region of Iraq 2006: Listing on the Toronto Stock Exchange. Acquisition of Pan Ocean Energy's assets and offshore Gabon 2007: Company average production of 126,000 barrels of oil per day. Addax Petroleum Foundation established. Listing on the London Stock Exchange 2008: PSC on Iroko licence signed, offshore Cameroon 2009: Acquisition of Addax Petroleum by the Sinopec Group. First exports of crude from Taq Taq field, Iraqi Kurdistan 2011: Company average production of 140,000 barrels of oil per day. Acquisition of Royal Dutch Shell's upstream assets, offshore Cameroon. Sinopec-Addax Petroleum Foundation established 2012: Creation of Talisman-Sinopec Energy UK Ltd joint venture company. Acquisition of Total S. A.'s interest in OML 138, deep-offshore Nigeria.

Opening of Houston office, United States 2013: Addax Petroleum promotes its corporate values, the first of it is "Integrity through Action". 2014: OML-138 Total S. A.'s interest acquisition, fails to receive Nigerian's authorities approval. 2015: Hit by the collapsing crude oil price and the lack of operational and exploration results, Addax Petroleum releases 70 people at its Geneva offices. 2016: Blaming Talisman and Repsol for their poor acquisition of the UK assets, Addax Petroleum seeks a US$5.5 bn arbitration against Talisman and Repsol 2016: Addax Petroleum long time external auditor, refuses to certify the company UK branch's balance sheet on suspicious payments from Geneva, the Isle of Man, in Nigeria. 2017: Addax Petroleum's Chief Legal and Chief Executive Officers are arrested in Geneva on corruption of foreign officials charges. Addax Petroleum agreed early July to pay 31 million Swiss francs to settle the charges with the Geneva justice department. In August, Addax Petroleum announced the shutting of its offices in Geneva and Aberdeen, thus releasing 174 people.

The closure of these offices is expected to be completed on December 10 and effective on December 31st, 2017. The Company's average daily oil production for 2011 was 140,000 bbl/d. Year-to-date average daily oil production as of Q3 2012 was 167,000 barrels per day; as part of its "Vision 500", Addax Petroleum was aiming at reaching an average daily production of 500,000 barrels of oil by 2015. Addax Petroleum has never been able to get anywhere close to that production figure. Addax Petroleum is the 2nd largest oil producer in Cameroon, the 4th largest in Gabon. Addax Petroleum used to be the 5th largest in Nigeria; the TTOPCO Joint Venture company was the largest oil producer in Iraqi Kurdistan. In 2017 TTOPCO announced a $181-million writedown on the asset value after the auditor McDaniel in February 2017 had evaluated its reserves at 59 million barrels, compared to 172 million bbl at 31 December 2015. Addax Petroleum purchased 49% of Talisman UK in 2012 to form the Talisman-Sinopec Energy UK Ltd Joint Venture company, that became Repsol-Sinopec Resources UK in July 2016 and is the 4th largest UK oil producer.

The Talisman U

Tamara Danilova

Tamara Petrovna Danilova is a Russian discus thrower who won the European title in 1969. She placed fifth at the 1971 European Championships and fourth at the 1972 Summer Olympics, both times losing to the world record holder Faina Melnik. In the Olympic final Danilova set a new Olympic record at 62.64 m, surpassing the record of Argentina Menis set in the qualifying round two days earlier. Her record was beaten two throws by Menis, by Melnyk. Melnyk would go on to set the masters world record in the W35 division eight years just after the Moscow Olympics. Danilova had to wait another sixteen years after the fall of the Soviet Union before she set her first masters world record, in the W55 division in 1996; that record of 43.36 m still stands. Danilova set the W65, W70 and W75 world records that still stand