FT: European energy nominee sells oil holdings to appease MEPs
Spain’s nominee to become the EU’s next energy and climate change commissioner has sold two large shareholdings in oil companies in hopes of appeasing parliamentarians threatening to reject his candidacy because of conflicts of interest.
Miguel Arias Cañete disclosed the sales on Tuesday amid concerns that his hold on what has become one of the commission’s more important portfolios was slipping. MEPs have been sharpening their knives ahead of hearings later this month when Mr Arias Cañete and 26 other nominees for the European Commission are hoping to win confirmation.
“In view of recent reports about my personal shareholdings I would like to clarify the following: I gave instructions to divest my shares in the energy sector the moment I was nominated commissioner-designate for climate action and energy to avoid even the slightest notion of potential conflict of interest,” Mr Arias Cañete said.