• 2 minutes U.S. Presidential Elections Status - Electoral Votes
  • 5 minutes “Cushing Oil Inventories Are Soaring Again” By Tsvetana Paraskova
  • 7 minutes United States LNG Exports Reach Third Place
  • 1 hour So Is COVID a Media Hoax or Not?
  • 1 hour Joe Biden's Presidency
  • 18 mins Biden suspends oil and gas drilling on Federal Lands for 60 days for review.
  • 3 hours JACK MA versus Xi Jinping
  • 9 hours GENERAL NORMAN SCHWARZKOPF: The Third Tour
  • 3 mins Parler’s New Partner Has Ties to the Russian Government
  • 21 mins a In 2020, we produced and delivered half a million cars.
  • 7 hours Thanks to food countersanctiona after 2014 Russia become net exporter of food
  • 11 hours The World Economic Forum & Davos - Setting the agenda on fossil fuels, global regulations, etc.
  • 2 hours The Debate Starts : Remake Republican Party vs. Third Party
  • 3 hours Deceptions Revealed about the “Nord Stream 2 Pipeline” and Germany
  • 137 days Wind, Solar & Gas in California. How's that working out for you?
  • 21 hours Navalny Poisoning Weakens Russo German Relations

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