The former chief executive officer of BP, Tony Hayward, is in talks to set up a new oil company sponsored by Abu Dhabi's sovereign wealth fund, The Sunday Times reported on Sunday.
The paper said Abu Dhabi representatives are believed to have approached Hayward with an offer to back him with several billion dollars to build an international oil and gas group.
The Abu Dhabi proposal is still in the early stages and is one of several under consideration by Hayward, the weekly adds, citing a source close to the situation.
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