BP PLC on Thursday confirmed Meg O’Neill has taken over as chief govt from interim CEO Carol Howle and named Howle as deputy CEO efficient instantly.
BP’s nine-member management in addition to its board now contains 5 ladies. Moreover O’Neill and Howle, the others are chief monetary officer Kate Thomson; prospects and merchandise govt vp (EVP) Emma Delaney; and EVP for individuals, tradition and communications Kerry Dryburgh.
“As I step into my new function I’m dedicated to offering clear course and consistency so our firm can transfer ahead with confidence”, O’Neill, a United States citizen, stated in a press release issued by the British vitality large.
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“To assist this, Carol will oversee the continued portfolio evaluation and long-term technique growth past our 2027 targets. I’m trying ahead to working intently together with her to ship a less complicated, stronger, extra beneficial BP to maximise worth for our shareholders”.
BP introduced a “reset” technique February 26, 2025 that might see it improve funding in oil and gasoline, decrease funding within the vitality transition and lower prices.
Below the brand new plan BP expects to develop oil and gasoline funding to about $10 billion a 12 months whereas reducing vitality transition funding to $1.5-2 billion each year, decrease by round $5 billion a 12 months than the earlier steering. The brand new plan goals to lift fossil gas manufacturing to 2.3-2.5 million barrels of oil equal a day in 2030, with plans for additional progress via 2035.
“Progress has been made in latest months however there may be at all times extra to do”, Howle stated Thursday. “Meg and I share a dedication to protected and dependable operations, disciplined capital allocation and high-quality supply – and I stay up for supporting her as she will get began”.
O’Neill was CEO of Woodside, an Australian liquefied pure gas-focused vitality producer, from August 2021 to December 2025.
BP introduced O’Neill’s appointment December 17, 2025 to interchange Murray Auchincloss, who resigned as CEO and board director. Howle, a British citizen, was then appointed interim CEO.
Howle, whom BP appointed govt vp for provide, buying and selling and transport (STS) in 2020, “will proceed to guide provide, buying and selling and transport and in her new function will even oversee the corporate’s ongoing portfolio evaluation and technique growth”, BP stated Thursday. “To assist these adjustments, BP’s technique and sustainability crew will now report back to Carol”.
Howle’s new function isn’t a place at BP’s board, which has been led by chair Albert Manifold since solely October 2025. Manifold changed the resigned Helge Lund.
Auchincloss had taken over as BP CEO January 2024. Auchincloss initially served in that place on an interim foundation when he changed Bernard Looney, who resigned within the third quarter of 2023 following controversy over Looney’s private relationships with colleagues.
“When Albert turned chair, I expressed my openness to step down have been an acceptable chief recognized who may speed up supply of BP’s technique”, Auchincloss stated in BP’s December announcement. “I’m assured that BP is now nicely positioned for important progress and I stay up for watching the corporate’s future progress and success below Meg’s management”.
At Woodside, Liz Westcott was confirmed CEO March 18, 2026. Westcott had already been serving in that capability on an interim foundation since O’Neill’s exit in December.
To contact the creator, electronic mail jov.onsat@rigzone.com
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