But in reality, Hayward is being placed in a leading position of what might be a much more difficult, and more important role for BP.
TNK-BP, the company in control of BP’s Russian and Ukrainian oil assets, could be about to lose BP as an investor if it seeks to sell off part or all of its 50% stake in the joint venture.
TNK-BP has been long the object of dispute among its investors, split between BP and a group of Russian oligarchs. That group includes Mikhail Fridman, German Khan, Viktor Vekselberg and Len Blavatni.
Those four have previously refused to sell out to BP as of June 17, 2008. 25% of BP’s oil production comes from these oil assets.
Tony Hayward will now step in, full time, and try to move BP through these negotiations with the four Russian billionaires in the way of BP and the money it needs to protect itself from the Deepwater Horizon disaster.
The last guy in charge of these moves, potential new BP CEO Robert Dudley, got on so bad with the four oligarchs that he reportedly had to go into hiding.
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.