BP has named Meg O’Neill as its next chief executive, appointing the current Woodside Energy boss to lead the British oil major at a time of strategic and leadership transition. O’Neill will assume the role on 1 April, becoming the first woman to head a major global oil company.
The London-based energy group said interim arrangements will be put in place following the departure of current chief executive Murray Auchincloss, who is stepping down less than two years after taking over from Bernard Looney. BP executive vice president Carol Howle will serve as interim chief executive until O’Neill formally begins her tenure. Auchincloss will remain in an advisory capacity until December 2026.
O’Neill has led Australia’s Woodside Energy since 2021 and is credited with overseeing the company’s expansion into the largest energy firm listed on the Australian Securities Exchange, following its 2022 acquisition of BHP Petroleum International. Prior to joining Woodside, she spent more than two decades at ExxonMobil in a range of technical, operational and leadership roles.
In a statement, O’Neill said she looked forward to helping BP “meet the world’s energy needs,” while strengthening safety, innovation and long-term sustainability. BP’s board cited her operational depth and experience managing complex global portfolios as key factors behind the appointment.
The leadership change follows a turbulent period for BP. Former CEO Bernard Looney was dismissed in 2023 after the company said he had failed to fully disclose personal relationships with colleagues, a breach the board described as serious misconduct. Looney forfeited millions in pay and benefits following the investigation.
O’Neill’s appointment also comes amid a strategic reset at BP. Earlier this year, the company announced it would scale back renewable energy investments and refocus on oil and gas production, responding to investor pressure over lagging profits and share performance. Rival firms, including Shell and Equinor, have made similar moves as global energy companies reassess their transition strategies.