Former BP boss in talks with Glencore

Mr Hayward, who quit BP last year over his handling of the Gulf of Mexico oil spill, will join Glencore as a non-executive director, according to a Sunday newspaper. It is understood Mr Hayward has been approached as part of Glencore's plans to strengthen its board before an expected 30bn float in London this year.

The move would be seen as a strong comeback for Mr Hayward in the wake of his departure from BP last autumn.

He stepped down in October after a media and political mauling over BP's Deep Horizon oil rig disaster, which killed 11 workers and led to the worst oil spill in United States history. Switzerland-based Glencore, which was not immediately available for comment, is understood to have initially considered Mr Hayward for the role of chairman to replace departing boss Willy Strothotte.

It is thought he will be given a non-executive position with the privately-owned company.