Corrupt Officials Find Prestigious Roles in UAE

The UAE has once again positioned itself as a haven for the world’s most corrupt individuals to secure prestigious roles, following the revelation that Abu Dhabi attracted the CEO of British oil company BP after his dismissal over a private relations scandal.

The British Financial Times reported that the former CEO of BP, the Irishman Bernard Looney, is among the high-ranking figures in the Emirates as he seeks to return to his position after a scandal last year regarding his previous relationships with his colleagues.

Looney held talks with Sultan Al Jaber, head of Abu Dhabi National Oil Company, and with Tahnoun bin Zayed Al Nahyan, the powerful UAE national security adviser and Emirati businessman, according to three people familiar with the matter.

The discussions involved considering whether Looney might participate in private equity-style investments with support from the Gulf state, according to one individual. This person also mentioned that Looney had not talked about any position within ADNOC.

ADNOC said in a statement to the Financial Times that the company had not held any conversations with Looney, but did not address whether there were any private discussions between him and Jaber.

Looney, who dedicated his entire career to the British oil giant, abruptly resigned last September and was subsequently dismissed for “serious misconduct” due to his failure to fully disclose past relationships with colleagues to the board. At 53, he had been BP’s CEO for less than three years.

The company has revoked up to £32.4 million of his salary and unvested stock bonuses.

During his time at BP, Looney was respected in the industry for his ambitious attempt to convert the 115-year-old oil company to cleaner fuels, and he maintained friends in the sector.

According to sources familiar with the matter, Jaber was one of the industry executives and business leaders who privately reached out to Looney after his departure to offer support.

BP and ADNOC have collaborated in the UAE for over 50 years, and during Looney’s tenure as CEO, he and Jaber formed a close professional relationship.

The UAE has been criticized by environmentalists for appointing the CEO of its state oil company to chair the COP28 climate talks last year.

Looney was one of the prominent leaders who declared their support for Jaber, and even wrote a letter to the Financial Times in his defense.

Jaber, who also serves as Minister of Industry and runs Masdar, the country’s largest renewable energy company, is considered the most powerful energy executive in the UAE.

BP first investigated allegations about Looney’s past relationships with colleagues in 2022, after which the then-CEO acknowledged some of the relationships and assured the board that he had nothing further to disclose.

When a second round of allegations emerged last year, revealing additional relationships, Looney admitted he had not been “fully transparent.”

According to the Financial Times, these allegations included claims that he had promoted women with whom he had undisclosed relationships. Looney has remained silent publicly since his resignation in September.

In his sole public statement on the matter in December, he expressed disappointment in how the situation was managed.