LONDON (Reuters) - BP (LON:BP)'s former head of downstream Tufan Erginbilgic has joined private equity fund Global Infrastructure Partners (GIP) as a partner, it said in a statement.
Erginbilgic, who left BP earlier this year after Bernard Looney was appointed as CEO, will be based in London and help GIP with finding new investments and developing partnerships in the energy world.
Private equity funds are expected to play a key role in acquiring tens of billions worth of oil and gas assets that top energy companies such as BP and Royal Dutch Shell (LON:RDSa) seek to sell in coming years as part of a shift towards renewables.
As head of refining, trading and marketing, known as downstream, at BP from 2014 to 2020, Erginbilgic oversaw the sale and upgrades of refineries and expansion of BP's retail business.