British Petroleum (BP), one of the world’s largest and most influential energy companies, has appointed Meg O’Neill as its new chief executive, making her the first woman to lead a major global oil firm.
The London-based energy giant said its current chief executive, Murray Auchincloss, will step down less than two years after assuming the role. Mr Auchincloss took over in September 2024 following the dismissal of Bernard Looney, who was removed after failing to fully disclose personal relationships with colleagues.
BP said executive vice president Carol Howle will serve as interim chief executive until Ms O’Neill formally takes office on 1 April. Ms O’Neill has been chief executive of Australian energy company Woodside Energy since 2021.
Commenting on her appointment, Ms O’Neill said she was looking forward to helping BP meet global energy demand while rebuilding market leadership, strengthening safety performance and advancing innovation and sustainability.
Mr Auchincloss said he had informed BP’s chairman last year that he was prepared to step aside once a suitable successor was identified. He will remain with the company in an advisory capacity until December 2026.
BP praised Ms O’Neill’s track record at Woodside Energy, highlighting the company’s 2022 acquisition of BHP Petroleum International, a deal that helped transform Woodside into the largest energy company listed on the Australian Securities Exchange.
Before joining Woodside, Ms O’Neill spent 23 years at ExxonMobil, where she held a range of technical, operational and senior leadership roles across the global energy business.
Her appointment comes after a turbulent period for British Petroleum. Mr Looney was dismissed without notice and forfeited up to £32.4 million in pay and benefits after admitting he was not fully transparent about past personal relationships. BP’s board said it had been knowingly misled.
Ms O’Neill takes the helm at a time of strategic change for the company. BP has recently scaled back its renewable energy investments and shifted its focus toward increasing oil and gas production, following pressure from investors concerned about weaker profits and share price performance compared with rivals.
Other global energy companies, including Shell and Norway’s Equinor, have also reduced green investment plans as the industry pivots toward fossil fuels amid shifting market conditions and geopolitical pressures.
