In a historic move for the energy sector, BP has named Meg O’Neill as its new chief executive, marking the first time a woman will lead a major global oil corporation. The appointment comes amid significant leadership turbulence at the London-based energy giant.
O’Neill, who currently serves as CEO of Australian energy firm Woodside Energy, will assume her new role on April 1st. She succeeds Murray Auchincloss, who is stepping down after less than two years at the helm. Auchincloss had replaced Bernard Looney in September 2024 following Looney’s dismissal for serious misconduct related to undisclosed relationships with colleagues.
BP executive vice president Carol Howle will serve as interim chief executive during the transition period. Auchincloss will remain in an advisory capacity until December 2026, ensuring continuity during the leadership change.
O’Neill brings extensive industry experience to BP, having spent 23 years in various technical, operational and leadership roles at ExxonMobil before leading Woodside Energy since 2021. Under her leadership, Woodside completed its significant acquisition of BHP Petroleum International in 2022 and grew into the largest energy company listed on the Australian Securities Exchange.
In her first comments as CEO-designate, O’Neill emphasized her commitment to helping BP ‘meet the world’s energy needs’ while prioritizing market leadership, safety innovation, and sustainability initiatives.
The leadership transition occurs as BP undergoes strategic shifts, including reducing renewable energy investments in favor of increased oil and gas production. This pivot follows pressure from investors concerned about profitability and share performance relative to competitors.
The appointment reflects broader industry trends, with rivals Shell and Equinor similarly scaling back green energy investments amid favorable market conditions for fossil fuels and supportive political environments, including former President Trump’s pro-drilling stance.