• 5 minutes Oil prices forecast
  • 8 minutes Nuclear Power Can Be Green – But At A Price
  • 11 minutes Projection Of Experts: Oil Prices Expected To Stay Anchored Around $65-70 Through 2023
  • 16 minutes Europe Slipping into Recession?
  • 5 hours *Happy Dance* ... U.S. Shale Oil Slowdown
  • 1 day U.S. Treasury Secretary Mnuchin Weighs Lifting Tariffs On China
  • 15 hours Socialists want to exorcise the O&G demon by 2030
  • 1 hour Germany: Russia Can Save INF If It Stops Violating The Treaty
  • 11 hours Connection Between Climate Rules And German's No-Limit Autobahns? Strange, But It Exists
  • 16 hours Chevron to Boost Spend on Quick-Return Projects
  • 53 mins Maritime Act of 2020 and pending carbon tax effects
  • 24 hours UK, Stay in EU, Says Tusk
  • 16 hours Conspiracy - Theory versus Reality
  • 1 day What will Saudi Arabia say? Booming Qatar-Turkey Trade To Hit $2 bn For 2018
  • 1 day German Carmakers Warning: Hard Brexit Would Be "Fatal"
  • 23 hours Regular Gas dropped to $2.21 per gallon today
Extreme Volatility In U.S. Natural Gas Market Is Here To Stay

Extreme Volatility In U.S. Natural Gas Market Is Here To Stay

Despite some bearish forecasts, natural…

How To Profit From The Death Of Las Vegas

How To Profit From The Death Of Las Vegas

This year, legal cannabis exploded…

Former BP boss Tony Hayward is Glencore Xstrata’s New Chairman

Commodities trading and mining company Glencore Xstrata (LON:GLEN) announced Thursday it has named Tony Hayward, the former chief executive of oil major BP ((NYSE:BP), who left the firm in disgrace over Gulf of Mexico disaster, to be its permanent chairman.

Hayward, who has been Glencore Xstrata’s interim chairman since Sir John Bond was ousted by shareholders last year, is also chief executive of London-listed oil company Genel Energy Plc (LON:GENL).

Ivan Glasenberg, Glencore’s chief executive, will continue to run the Swiss-based company, with Hayward serving as non-executive chairman.

The appointment is quite the comeback for Hayward, forced out of BP in July 2010 after the Gulf of Mexico disaster — the vastest marine oil spill in history. He was vilified across America after he said he wanted his “life back” in the aftermath of the explosion that killed 11 people and devastated the livelihoods of many others.

Related Article: BP Return to Gulf of Mexico Marks U.S. Energy Sea Change

After leaving BP, the executive co-founded Vallares Plc with Nat Rothschild to tap into Iraqi Kurdistan's oil riches. He later bought Turkey-based oil firm Genel Energy and merged it with his investment vehicle.

Hayward, who began his career as a geologist working in the North Sea, has said he intends to expand Genel by exploring for oil and gas in places like Somalia and and Morocco.  However, there are questions about whether he will be able to do so now, as it is not clear he will retain his role as chief executive of Genel, with media reports suggesting he could leave within a year.

By Cecilia Jamasmie

Source: Mining.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News