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Oil & Gas

Ex-BP Boss Denies Investment Fund Reports

April 07, 2011
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Reuters reports that former BP Plc chief executive Tony Hayward denied he was setting up an investment firm as he left a private meeting in one of the most luxurious hotels in the United Arab Emirates. Recent media reports have said Hayward was in the initial stages of launching an energy investment fund. Hayward declined to comment on his future plans. Last year, Hayward was spotted in Abu Dhabi as he sought to raise cash to ward off a potential takeover of BP and help pay for the oil spill. At the time he had set up meetings with Abu Dhabi Investment Authority (ADIA), one of world''s largest sovereign wealth funds.

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