Former BP boss Bernard Looney has joined Abu Dhabi’s £63billion investment group XRG, his second new job in two weeks.
Looney kept a low profile after he quit BP in September last year, until he took over as chairman of Prometheus Hyperscale’s AI team last month.
Yesterday, XRG, a subsidiary of Abu Dhabi’s national oil group Adnoc, said it would benefit from Looney’s ‘extensive experience across the global energy supply chain’.
‘XRG is focused on finding ways to help meet the growing demand for electricity,’ Looney said.
Experience: Former BP boss Bernard Looney has taken his second new job in just two weeks to join Abu Dhabi’s powerful £63bn investment group XRG
His plan at BP to switch from oil and gas to renewable energy is on the wane, as it looks set to spin off its offshore wind arm – rowing on the ambition to move away from fossil fuels.
Looney became CEO of BP in 2020 but resigned after admitting to misleading his board about a range of personal relationships with colleagues.
Since then BP has returned £32.4million in fees, cash and shares from each.
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