BP taps Woodside’s Meg O’Neill as CEO as it pivots back to fossil fuels

Al JazeeraCenterEN 2 min read 100% complete by By ReutersDecember 18, 2025 at 06:26 PM

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In December 2025, BP appointed Meg O'Neill, formerly of Woodside Energy and Exxon, as its new CEO, effective April. This marks the first time in over a century that BP has hired an external candidate for the position, and O'Neill is the first woman to lead a top-five oil major. The appointment follows the recent departure of Murray Auchincloss and signals BP's strategic pivot back towards fossil fuels after scaling back renewable energy investments. The company aims to improve profitability and shareholder value through cost cuts, asset divestments totaling $20 billion by 2027, and debt reduction. O'Neill's hiring is seen as a response to pressure from investors, including Elliott Investment Management, to address BP's financial performance.

Key Entities & Roles

Key Player Opposition Context

Boulder, Colorado 30% UK 40% Elliott Investment Management 50% Murray Auchincloss 50% Exxon ×260% Albert Manifold ×260% Woodside Energy ×270% Meg O'Neill ×490% BP ×7100%

Keywords

bp 100% meg o'neill 100% fossil fuels 90% ceo appointment 80% oil major 70% share performance 60% profitability 60% cost cuts 50% divestments 50% renewable energy 50%

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Al Jazeera

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bp meg o'neill fossil fuels ceo appointment oil major share performance profitability cost cuts divestments renewable energy

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