🤑 It doesn’t get more affordable. Grab this 60% OFF Black Friday offer before it disappears…CLAIM SALE

BP names former UK MI6 spy chief as director

Published 14/05/2015, 16:04
© Reuters. Britain's Secret Intelligence Service chief, John Sawers, arrives for a meeting of the UK's National Security Council, at 10 Downing Street in London
BP
-
EQNR
-
SLB
-
ROSNq
-

By Dmitry Zhdannikov and Ron Bousso

LONDON (Reuters) - BP (L:BP) has appointed former MI6 spy chief and veteran diplomat John Sawers as a non-executive board member in a development highlighting long running links between the British establishment and the oil major.

The appointment comes only weeks after the cabinet issued a warning saying it would oppose any potential takeover of BP as it wants the company to remain a national champion.

Britain's foreign office said it had accepted the application from Sawers to join BP on condition that "he should not draw on privileged information available to him from his time in the secret service".

It also added that "Sawers should not become personally involved in lobbying the UK Government on behalf of his new employers, their parent companies or their clients" for two years from his last day of service, which was Nov 1, 2014.

The standard cooling off period is designed to address the "revolving-door" policy concerns when former spies embark on top roles at companies which can then exploit their knowledge.

Sawers was the head of the MI6 secret intelligence service from 2009 to 2014. He had previously served as Britain's ambassador to the United Nations and has held a number of senior government roles in the Middle East, including in Egypt and Iraq, where BP has large and growing operations.

MI6, cast by novelists as the employer of some of the most memorable fictional spies from John le Carre's George Smiley to Ian Fleming's James Bond, operates overseas and is tasked with defending Britain and its interests.

Sawers strongly resisted attempts by some politicians and journalists to lift some of the secrecy surrounding MI6, whose existence Britain only publicly admitted in 1994.

Sawers is not the first top spy to move to BP -- Mark Allen, who was director of counter-terrorism at MI6, joined the major soon after retiring in 2004.

Other examples of top spies moving to the energy industry include Sawers' predecessor John Scarlett who was appointed as a strategic adviser to Norwegian energy company Statoil (OL:STL) in May 2011.

In the United States, former top spies have often been hired by the oil services industry including CIA chiefs John Deutch who was a director with oil services giant Schlumberger (N:SLB) and Robert Gates with Parker Drilling.

© Reuters. Britain's Secret Intelligence Service chief, John Sawers, arrives for a meeting of the UK's National Security Council, at 10 Downing Street in London

Russia's state oil giant Rosneft (MM:ROSN), in which BP holds around 20 percent, is run by Igor Sechin, a former spy and a close ally of President Vladimir Putin.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.