BP names Meg O’Neill as new chief govt | EUROtoday

BP has appointed a brand new chief govt, making Meg O’Neill the primary lady to run a serious world oil agency.

The London-based power large mentioned its present boss Murray Auchincloss would step down lower than two years after he changed Bernard Looney, who was discovered to have dedicated “serious misconduct” in failing to reveal relationships with colleagues.

BP govt vp Carol Howle will function interim chief govt till Ms O’Neill, who has led Australian power agency Woodside Energy since 2021, takes up her new function on 1 April.

Ms O’Neill mentioned she seems to be ahead to serving to BP “do our part to meet the world’s energy needs”.

Mr Auchincloss, who took over from Mr Looney in September 2024, mentioned he had instructed BP’s chairman in September that he was open to stepping down “were an appropriate leader identified”.

“I am confident that BP is now well positioned for significant growth and I look forward to watching the company’s future progress,” he mentioned after Ms O’Neill’s appointment was introduced. He will serve in an advisory function till December 2026.

Ms O’Neill mentioned she would prioritise re-establishing the oil large’s market management, in addition to advancing security and driving innovation and sustainability.

BP praised Ms O’Neill’s time as chief govt of Woodside Energy, pointing to the agency’s takeover of BHP Petroleum International in 2022.

It mentioned she had grown the enterprise into the biggest power firm listed on the Australian Securities Exchange.

Before becoming a member of Woodside, Ms O’Neill spent 23 years in technical, operational and management positions at Texas-based power agency ExxonMobil.

Mr Looney was dismissed with out discover, and forfeited as much as £32.4m ($43.3m) in wage and advantages, after admitting that he was not “fully transparent” about his previous private relationships.

BP’s board mentioned they’d been “knowingly misled” by Mr Looney.

At the time, Mr Looney mentioned in a press release that he was “disappointed with the way this situation has been handled”.

Ms O’Neill’s appointment comes as BP is chopping its renewable power investments and as a substitute specializing in rising oil and fuel manufacturing.

In February, the power large mentioned it will shift its technique following stress from some buyers who had been pissed off that its income and share value had lagged behind rivals.

Rivals Shell and Norwegian firm Equinor have additionally scaled again plans to spend money on inexperienced power and US President Donald Trump’s name to “drill baby drill” has inspired companies to spend money on fossil fuels.