BP has appointed Meg O’Neill as its next chief executive, making her the first woman to lead one of the world’s largest oil companies. She is expected to assume the role in April, marking another first for BP as she becomes the company’s first CEO appointed from outside its internal leadership ranks.
O’Neill joins BP from Australia’s Woodside Energy, where she has served as chief executive since 2021. During her time at Woodside, she led a major expansion drive that reshaped the company’s global footprint. One of the most significant moves under her leadership was the acquisition of BHP’s petroleum assets, a deal that sharply increased Woodside’s production base and international presence.
The expansion strategy helped position Woodside as a major global gas producer, with investments spanning Australia, North America and offshore projects in Mexico. The company also made a large push into liquefied natural gas, particularly in the United States, as demand for gas rose globally. However, despite these moves, Woodside’s shares have underperformed compared with some of its larger rivals in recent years.
O’Neill, an engineer by training, previously spent more than two decades at U.S. oil major Exxon before joining Woodside in 2018. She is widely regarded as a direct and results-driven leader, known for encouraging open communication within organisations and reducing traditional executive barriers.
She has also been outspoken about regulatory delays affecting energy projects, particularly in Australia, where lengthy approval processes have slowed the development of major gas fields. O’Neill has argued that such delays threaten long-term energy supply at a time when global demand continues to rise.
On climate and energy transition issues, her approach at Woodside prioritised gas and existing infrastructure over large-scale renewable investments. This stance attracted criticism from climate activists and some investors, especially after shareholders rejected the company’s emissions strategy last year.
O’Neill’s appointment comes at a critical time for BP, which has faced strategic uncertainty and pressure from investors over its long-term direction. Analysts say her background in large acquisitions, operational efficiency and gas-focused growth could signal a shift in priorities at the London-based energy group.
