DEBT FINANCING. Ex-BP chief Hayward to exit tray TNK-BP: report

London (Reuters)-the former BP (BP.Head of L) Tony Hayward is studying the possibility to resign from the Board of Directors of Russian oil joint venture TNK-BP, but has yet to inform the British oil company of any decision, said a spokesman for the company.
The announcement followed the return of the Hayward to the business of oil last week, when his investment vehicle Vallares (VLRS.L) announced an agreement to acquire Turkish General energy Manager.
Enlarged group will likely be large enough to insert the FTSE index of 100 blue-chip London-listed companies.
A BP spokesman, responding to a report in the Sunday Telegraph, said he had been aware for some time that Hayward should consider their future in the Board of Directors of the TNK-BP spokeswoman said they were leaving the plate from Hayward, joint venture, he would be replaced by another Director appointed for BP.
In an interview with the Sunday Telegraph, Hayward said he has no plans to relinquish any TNK-BP (TNBP.MM) or the Board of Directors of Glencore (GLEN.L). However, the book cited people close to Hayward as saying that he was expected to inform BP of its intention in the coming weeks.
The newspaper added that Hayward did not believe that he would have time to devote to TNK-BP.
Hayward exit as BP Chief Executive after its Macondo blown-out also caused the worst ever oil spill in the United States. As part of the crisis, Hayward was vilified by much of the American press to a string of comments, including when he said that he wanted to return to his "life".
The news comes as Britain's Prime Minister, David Cameron, travels to Russia for a visit focused on business and commerce. Cameron will travel with more than 20 business executives, including BP Chief Executive Bob Dudley.
BP has been engaged in a fight with its partners in TNK-BP, which claimed billions of losses due to the failure of BP plan to establish a parallel joint venture with the State-controlled Rosneft.
Last week, dressed in black special forces stormed the Moscow offices of BP and searched for documents related to the business of Rosneft failed.

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