Thursday, October 13, 2016

Carlyle Working with Former BP CEO Tony Hayward on Colombian Oil

Sky News reported:

Sky News has learned that Mr Hayward, who stepped down from the top job at BP soon after the Gulf of Mexico Deepwater Horizon oil disaster in 2010, is seeking to identify oilfields to purchase in countries including Colombia and Argentina.

If successful, Mr Hayward is expected to be paid a fee by The Carlyle Group for introducing the deal to the firm, although it is not clear whether he would have an ongoing role in the management of the new venture.

The former BP chief is understood to have lined up a team of oil executives to run the business under Carlyle's ownership.
If Argentina hated hedge funds they won't like private equity underwriters (PEU) like Carlyle.  Colombians learned what private equity can do from The Clinton Foundation, which owns PEU Acceso.  One Colombian citizen stated The Clinton Foundation has done "nothing for workers."

Another local fish merchant took out a large loan and later experienced Clinton bait and switch:

Instead, she would sell her fish directly to Acceso — at sharply reduced prices — and Acceso would resell them. In other words, the Clinton Foundation would act as a middleman and profit from margins supplied by the people it was supposed to be helping.
That's the PEU way.

South Americans should know this isn't the first time Carlyle worked with a BP merchant of death.  Lord John Browne headed BP when its Texas City refinery exploded, killing fifteen workers and injuring 180.  Tony Hayward's Deepwater Horizon explosion also killed fifteen people.

The Carlyle Group's LifeCare Hospitals had 26 deaths in the toxic aftermath of Hurricane Katrina.  That's nearly the combined death toll of the two BP explosions.

It's fitting that Tony Hayward is working with The Carlyle Group.  They are cut from the same greedy cloth.  Based on their prior experience I imagine Colombians get nervous when Western billionaires come snooping for their next profitpalooza.