Ex-BP chief to lead new oil company

Tony Hayward, the former BP chief executive who stepped down in the wake of the Deepwater Horizon explosion, is in talks to launch a new global oil company, according to press reports.

Mr Hayward was approached by representatives from Abu Dhabi’s sovereign wealth fund who offered to bankroll him to the tune of several billion dollars to enable him to build a global oil and gas group, according to the Sunday Times.