Yahoo Finance Disgraced former BP boss Bernard Looney plans Abu Dhabi comeback
Former BP chief executive Bernard Looney is reportedly plotting a comeback in Abu Dhabi after he was dismissed last year over past relationships with colleagues.
The Irishman has met with senior figures in the United Arab Emirates, including talks on potentially being involved in making private equity-style investments with the state’s backing, according to the Financial Times.
Looney is said to have spoken with Sultan al-Jaber, chair of the Abu Dhabi National Oil Company (Adnoc), and Sheikh Tahnoon bin Zayed al-Nahyan, an influential national security adviser and businessman. One source said Looney had not discussed a role within Adnoc.
Adnoc said in a statement that it had not held any discussions with Looney but did not comment on whether he and Jaber had spoken in private.
A spokesperson for Looney declined to comment. Sheikh Tahnoon could not be contacted for comment.
After spending his entire career at BP, 53-year-old Looney suddenly resigned last September and was later dismissed for “serious misconduct” in failing to fully disclose past relationships with colleagues to the board.
The oil and gas giant said in March that Looney had lost out on around £29m worth of total share awards and other pay after the revelations emerged.
BP and Adnoc have had a long-standing working relationship for more than 50 years, with Looney and Jaber reportedly developing a close professional relationship during his time as CEO.
Looney publicly defended Jaber last June after the UAE faced backlash for appointing him to be president of the COP28 summit.
In his only public statement since leaving BP, Looney said in December that he was “disappointed with the way the situation has been handled”.
The scandal has resulted in BP tightening up its internal policies as employees are now warned to disclose any intimate relationships they have at work.
