Tony Hayward was expected to resign Monday after a meeting in London to choose his fate. 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 . After running the careless company that began the oil spill within the Gulf of Mexico 2010, and then leading a bungling response to the disaster, Hayward may seem to be getting away. But some senators who think he had a hand in a BP-Libya oil deal that led to the release of a convicted terrorist want to grill him before he flies to Moscow.
Tony Hayward's Russian gig has an ironic twist
BP boots Tony Hayward from the corner office in October. His likely replacement is Robert Dudley, as outlined by the Associated Press. Hayward was changed by Dudley as BP's point man for the oil spill response. Hayward will now hold up BP's end on the board on the Russian joint venture TNK-BP. Ironically, Dudley once headed TNK-BP and had to flee from Russia in 2008 after he ran afoul of authorities there.
Dudley didn't last at TNK-BPwill Hayward?
Tony Hayward's new post at BP's 50-50 joint venture with Russian oligarchs suggests that his company nevertheless thinks more of him than most Americans and the United States of America political establishment. 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. Russian shareholders forced Dudley to flee the country for the sake of the deal.
Senators think Hayward bargained terrorists for oil
Tony Hayward may be stepping down, but that won't stop Americas Senators Bob Menendez and Kirsten Gillibrand from trying to haul him before Congress. The New York Observer reports that they senators want to hear from Hayward at a July 29 hearing to the release of the Lockerbie bomber. 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.
Further reading
nydailynews.com/
nytimes.com
observer.com
ZemRrushe
Wow.
A post by someone in the Philippines and no linkage to themoneystore, I'm impressed.