Archie Mitchell and Josh MartinBusiness reporters
Reuters
Newly appointed BP chief executive Meg O’Neill currently runs Australian oil and gas firm Woodside Energy
BP has appointed a new chief executive, making Meg O’Neill the first woman to run a major global oil firm.
The London-based energy giant said its current boss Murray Auchincloss would step down less than two years after he replaced Bernard Looney, who was found to have committed “serious misconduct” in failing to disclose relationships with colleagues.
Under Ms O’Neill, who currently runs Australian oil and gas firm Woodside Energy, BP is expected to continue its recent strategy of moving away from renewables to refocus on its core oil and gas business.
Ms O’Neill said she looks forward to helping BP “do our part to meet the world’s energy needs”.
Ms O’Neill’s surprise appointment comes only three months after BP appointed a new chairman, Albert Manifold.
In February, the energy giant said it would shift its strategy following pressure from some investors who were frustrated that its profits and share price had lagged behind rivals.
Rivals Shell and Norwegian company Equinor have also scaled back plans to invest in green energy and US President Donald Trump’s call to “drill baby drill” has encouraged firms to invest in fossil fuels.
Energy consultant and former Shell executive Robin Mills told the BBC’s Today programme that the “surprise” appointment of Ms O’Neill was about refocusing on its core oil and gas businesses.
“The new chairman… has really decided to put his stamp on things,” he said.
“I think the announcement that’s been put here made it very clear that he felt Murray [Auchincloss] had done a decent job, but not enough and more was needed and some new leadership, some new blood.”
Although Mr Auchincloss he tried to distance himself from his predecessor’s plans to cut oil and gas production, some shareholders had been impatient at the pace of change and were pushing for changes at
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