British energy group BP has announced the appointment of Meg O’Neill as Chief Executive Officer, effective from April 1, 2026. The current CEO of Australian company Woodside Energy will succeed Murray Auchincloss, who is stepping down after less than two years at the helm. Interim management will be handled by Carol Howle, BP’s current Executive Vice President, until Ms O’Neill officially takes over.
The appointment comes amid internal restructuring marked by a strategic repositioning. BP ended its previous environmental roadmap in 2025, now favouring a model centred on hydrocarbons and a large-scale cost reduction plan. The early departure of Mr Auchincloss is seen as a catalyst for this structural transformation.
A leader from the traditional oil sector
Meg O’Neill has more than 25 years of experience in the oil industry, including over two decades at US major ExxonMobil before joining Australia’s Woodside Energy. She is known for her operational management in complex contexts, particularly in offshore project development.
BP Chairman Albert Manifold, in office since October, welcomed a leader capable of managing a phase of increased rigour. According to him, the group must become “simpler, more agile and more profitable”, by strengthening its organisational discipline to meet shareholder expectations.
Profits rise despite lower prices
In November, BP reported a net profit of $1.16bn for the third quarter of 2025, compared to $206mn during the same period the previous year. The result rose despite a general decline in oil prices on international markets. The group confirmed it is continuing to implement its recovery plan, with ongoing job cuts and a redirection of investments toward high-yield assets.
The next steps in BP’s strategy under Meg O’Neill’s leadership will be closely monitored by industry players, amid volatile prices and margin pressures for integrated oil companies.
