Dubai : The former chief executive officer of BP, Tony Hayward, is in talks to set up a new oil company sponsored by Abu Dhabi's sovereign wealth fund, The Sunday Times reported on Sunday.
The paper said Abu Dhabi representatives are believed to have approached Hayward with an offer to back him with several billion dollars to build an international oil and gas group.
The Abu Dhabi proposal is still in the early stages and is one of several under consideration by Hayward, the weekly adds, citing a source close to the situation.
The paper wrote that Hayward is planning to build a portfolio of roles in global businesses.
Commodities trader
He was last month invited to join the board of Glencore, the world's largest commodities trader, which is preparing for a £30-billion (Dh110.34 billion) float this year.
Tony Hayward stepped down as oil giant BP's chief executive in October last year following criticism in the US over his response to the Gulf of Mexico oil spill.
BP confirmed on July 27 last year that Hayward would be replaced by Bob Dudley as the company's CEO.
Hayward was a member of the Citibank advisory board from 2000 to 2003. He also is presently senior independent non-executive director of Corus Group, appointed in April 2002, and a non-executive director of Tata Steel.
