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The Latest Breaking News from Meg ONeill

BP's new CEO Meg O'Neill rips up the energy giant's playbook—and the 'green' era with it

O’Neill, who took over on April 1, is the only woman to serve as CEO of a traditional Big Oil supermajor in Europe or the U.S.

Fortune

New BP boss overhauls structure to simplify operations

BP said it will be reorganised into two business divisions – upstream and downstream – from the start of July.

Evening Standard

The BP drama will fade: boards are allowed to ditch the chair

Rather than a continuation of the company’s recent issues, isn’t this an example of the board doing what it is supposed to do?

The Guardian - UK

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Fired BP chair disputes oil company’s claims of poor conduct

Albert Manifold says he was removed without warning and ‘will not allow a false narrative to go unchallenged’

The Guardian - UK

Inside Citi CEO Jane Fraser’s 5-year grind to restore the bank's credibility

Also: All the news and watercooler chat from Fortune.

Fortune

BP sacks chairman Manifold in a fresh blow to the troubled energy giant

Albert Manifold is the third senior BP leader to exit under a cloud in three years, as the British energy giant's boardroom turmoil shows no sign of abating.

Euronews

BP plans to sell shares in flagship carbon projects as it pulls back from green agenda

Oil firm seeks to reduce stake in carbon capture and storage projects in north-east of England after schemes fail to win over shareholders

The Guardian - UK

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UAE quits Opec in ‘pivotal moment’ for oil producing group – as it happened

It’s UAExit as the United Arab Emirates will leave Opec on 1 May, in a blow to the group of oil producers

The Guardian - UK

What impact will soaring oil prices have on BP’s earnings?

The FTSE 100 firm said earlier this month it was heading for an ‘exceptional’ oil trading result in the first three months of the year.

Evening Standard

BP board suffers triple climate rebellion from shareholders

More than 50% of voters at first AGM under new leadership oppose plans to scrap climate reporting

The Guardian - UK

BP is operating in a world of ‘significant complexity’, new boss tells staff

Meg O’Neill’s memo comes as company tries to rebuild strategy amid oil shock of Iran war and after failed green pivot

The Guardian - UK

BP to sell German oil refinery as part of $20bn cost-cutting plan

Energy company plans full return to London by moving global HQ to new development on South Bank

The Guardian - UK

BP’s new boss will take home at least £11.7m this year, more than double her predecessor

Meg O’Neill will be first woman to serve as CEO of 117-year-oil firm when joining from Woodside Energy in April

The Guardian - UK

Net zero could put Woodside in the red in five years

Australia's biggest oil and gas producer has posted record output, but a global supply glut and the energy transition could hinder future profits.

AAP

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The Guardian - UK

Honeymoon period for new BP boss won’t last long

Markets did not like the decision to suspend share buy-backs – and investors will want clarity about what happens next

The Guardian - UK

BP to take hit of up to $5bn on green energy as it refocuses on fossil fuels

Energy company also under pressure from worse oil trading performance and weaker oil prices

Evening Standard

BP cautions over ‘weak’ oil trading and reveals up to £3.7bn in write-downs

The oil giant joined FTSE 100 rival Shell, after it also last week cautioned over a weaker performance from oil trading amid lower crude costs.

The Guardian - UK

BP to sell majority stake in $10bn Castrol business to US investment firm

Stonepeak will acquire 65% of lubricants business as part of wider plans for the oil company to pay down its debt

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Evening Standard

BP to sell majority stake in Castrol to Stonepeak for £4bn

New York-based Stonepeak has agreed to buy a 65% stake in Castrol.

Fortune

BP's C-suite milestone: Women in both the CEO and CFO seats

Woodside Energy leader Meg O’Neill will join BP as CEO, alongside finance chief Kate Thomson.

The Guardian - AU

Morning Mail: cautious welcome for plan to tackle hate speech, seven detained in Sydney operation, England’s Snicko woe

Albanese government’s five-point plan is an essential ‘first step’, groups say; heavily armed officers swoop on two cars to allegedly prevent ‘violent act’

The Guardian - UK

BP opts for culture shock with new CEO appointment, but the timing is odd

The decision to replace Murray Auchincloss with Woodside’s Meg O’Neill is puzzling on at least two counts

Evening Standard

FTSE 100 and sterling rise after Bank of England rate cut

In a split vote, the Bank’s Monetary Policy Committee voted five to four to reduce interest rates.

The Guardian - UK

Meg O’Neill: ‘hard-nosed’ outsider who will head BP’s pivot away from green energy

First female appointment to a major oil company has faced fierce resistance from climate activists as boss of Woodside

The Independent UK

BP hires first female boss after surprise departure of chief executive

The abrupt departure of Murray Auchincloss follows the appointment of Albert Manifold as BP’s new chairman

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