Monday, June 21, 2010

Tony Hayward Backs Out of Oil Congress

BP CEO Tony Hayward was slated to give the keynote address at the annual meeting of the World National Oil Congress. His talk would've concerned "global responsibilities of international oil companies."

That likely flashed warning lights for BP risk managers. It wouldn't do for Hayward to make definitive remarks on oil company responsibilities. Those could come back to haunt the company in court.

What about "Bob"? How did Hayward's 52 foot yacht do in the JP Morgan Asset Management Round the Island Race?

A global gathering of oil executives seems more appropriate for the BP Chief Executive. Hayward could ask for help from other national oil companies, especially the Saudis. They cleaned up a 700 million gallon spill.

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