James Ashton: No wonder Tony Hayward doesn't want to stay on
Outlook Now his business is concentrated about as far from Britain as you can get, Tony Hayward is ideally placed to comment on our looming energy crisis. A manifesto published by the former BP boss the other day urged the Government not to turn its back on fossil fuels, to build our own nuclear power stations instead of hoping the French will do it for us and to slash subsidies for on and offshore windpower. Sounds easy.
Easier still has been how Mr Hayward and former Goldman Sachs banker Julian Metherell have navigated political tensions in Kurdistan to get Genel Energy, the region's largest independent oil producer, motoring.
In addition to three new discoveries in three months, investors are warming to the potential of assets in Morocco and Malta. With a further £570m of cash to play with, expect more acquisitions, probably further east – unless one of the multinationals that have moved into the region gobble it up first.
Figures yesterday propelled Genel shares to within a whisker of the £10 they raised funds at two years ago. Compare its performance with that of Glencore, now Glencore Xstrata, which floated around the same time and has been hobbled by tumbling commodity prices, and it isn't hard to see why Mr Hayward only wants to be stand-in chairman of the trading giant until he can find someone else to do the job permanently.
- 1 East 17 bandmember Brian Harvey in 'very desperate situation’
- 2 Vladimir Putin says Russia will fight for the right of Palestinians to their own state
- 5 Germanwings plane crash: I have depression. That doesn't make me a psychopath
East 17 bandmember Brian Harvey in 'very desperate situation’
Vladimir Putin says Russia will fight for the right of Palestinians to their own state
Ohio Democrat Teresa Fedor speaks out during abortion debate to reveal she has been raped – and is interrupted by laughter from Republicans
Germanwings plane crash: Investigators may have already found remains of suspected killer co-pilot Andreas Lubitz
Children take eight Isis captives to be beheaded in latest propaganda video
Ukip supporters are 55 or older, white and socially conservative, finds British Social Attitudes Report
JK Rowling responds to fan tweeting she 'can't see' Dumbledore being gay
Street preacher quoting from the Bible fined for calling homosexuality an 'abomination'
Jeremy Clarkson sacked live: Alan Yentob 'wouldn't rule out' ex Top Gear host's BBC return
Woman filmed launching racist tirade against men on the Tube for speaking in 'own lingo'
The West has it totally wrong on Lee Kuan Yew
iJobs Money & Business
£20000 - £35000 per annum: Recruitment Genius: This multi-award winning foreig...
Negotiable: Recruitment Genius: To provide a prompt, friendly and efficient se...
Negotiable: Recruitment Genius: You will be the first point of contact for all...
£18000 - £24000 per annum + benefits: Ashdown Group: HR, Payroll & Benefits Of...