Table of Contents
Former BP boss Bernard Looney has joined £63bn Abu Dhabi energy investment group XRG, his second new job in just two weeks.
Looney kept a low profile after leaving BP in September last year, until his appointment as president of US artificial intelligence group Prometheus Hyperscale last month.
Yesterday, XRG, a subsidiary of Abu Dhabi national oil group Adnoc, said it will benefit from Looney’s “vast experience across the global energy supply chain”.
“XRG will focus on finding ways to help meet growing energy demand in a sustainable way,” Looney said.
Experience: Former BP boss Bernard Looney has accepted his second new job in just two weeks, joining Abu Dhabi’s £63bn energy investment group, XRG.
His mission at BP to shift from oil and gas to renewable energy is unraveling as he looks to spin off its offshore wind farms division, backtracking on his ambitions to move away from fossil fuels.
Looney became chief executive of BP in 2020, but resigned after admitting that he misled his board about the extent of personal relationships with colleagues.
BP has since recovered up to £32.4m in wages, bonuses and shares from him.
DIY INVESTMENT PLATFORMS
AJ Bell
AJ Bell
Easy investing and ready-to-use portfolios
Hargreaves Lansdown
Hargreaves Lansdown
Free Fund Trading and Investment Ideas
interactive inverter
interactive inverter
Fixed fee investing from £4.99 per month
sax
sax
Get £200 back in trading fees
Trade 212
Trade 212
Free trading and no account commission
Affiliate links: If you purchase a This is Money product you may earn a commission. These offers are chosen by our editorial team as we think they are worth highlighting. This does not affect our editorial independence.