Tony Hayward Loses CEO Job But Stays At BP To Run Russian Venture
Following a meeting in London to choose his fate, Tony Hayward was expected to resign Monday. He’ll work for BP in Russia instead, managing his company’s role in TNK-BP, a joint venture considered one of BP’s best projects . Hayward may appear to be escaping culpability for leading a wreck less company that caused the oil spill in the Gulf of Mexico 2010, and then botching the oil spill response. But before he starts his new job, some senators want to ask him about a BP-Libya oil deal that stipulated the release of a convicted terrorist. Resource for this article – Tony Hayward steps down to run TNK-BP Russian oil venture by Personal Money Store.
Tony Hayward’s Siberian sojourn
BP boots Tony Hayward from the corner office in October. The Associated Press reports that Robert Dudley is his likely replacement. Hayward was changed by Dudley as BP’s point man for the oil spill response. The board of BP’s Russian venture TNK-BP now has a seat for Hayward. Ironically, Dudley once headed TNK-BP and had to flee from Russia in 2008 after he ran afoul of authorities there.
Dudley and TNK-BP: not a happy ending
BP thinks more of Tony Hayward than most American’s and American politicians, if his new role swimming with Russian oil sharks is any indication. The Washington Post reports that analysts consider the TNK-BP venture one of BP’s crown jewels, accounting for a quarter of BP production. But it is a problematic one, as proven by Robert Dudley, Hayward’s likely successor as BP CEO. After getting into a dispute with Russian shareholders, Dudley was forced to leave the country.
Did Tony Hayward set a terrorist free?
United States Senators Bob Menendez and Kirsten Gillibrand want to haul Tony Hayward before Congress, perhaps though he is stepping down. The New York Observer reports how the senators could be holding a July 29 hearing to the release of the Lockerbie bomber and told the press they want to hear from Hayward. The British government has been pressured for weeks by the two senators to start investigating whether a BP-Libya oil deal is related to the release of Lockerbie bomber Abdul Baset al-Megrahi. Menendez said that during BP’s negotiations with Libya during the deal Hayward may have played a role.
Additional reading
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