Ex-BP boss Bernard Looney joins board of Abu Dhabi's £63bn energy investment group XRG
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Former BP boss Bernard Looney has joined Abu Dhabi’s £63billion energy investment group XRG, his second new job in just two weeks. Looney kept a low profile after quitting BP in September last year, until his appointment as chairman of US AI group Prometheus Hyperscale last month.
Yesterday, XRG, an offshoot of Abu Dhabi national oil group Adnoc, said that it will benefit from Looney’s ‘vast experience across the global energy supply chain’. ‘XRG will focus on finding ways to help meet increasing energy demand sustainably,’ Looney said.
Experience: Former BP boss Bernard Looney has taken 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 unravelling, as it looks to spin off its offshore windfarm arm – rowing back on ambitions to move away from fossil fuels.
Looney become chief executive at BP in 2020 but resigned after he admitted misleading its board over the extent of personal relationships with colleagues. BP has since clawed back up to £32.4million in pay, bonuses and shares from him. Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.
