In a dramatic shake-up of one of the world’s most storied energy companies, BP has named Meg O’Neill as its next chief executive officer (CEO). This is a historic appointment that signals both continuity and upheaval in the global oil and gas sector. The American executive, currently at the helm of Woodside Energy in Australia, will take the reins at BP on April 1, 2026. She will become the first woman to lead one of the big-five oil companies and the first CEO in BP’s 116-year history hired from outside the company.

Born Marguerite Eileen O’Neill in Boulder, Colorado, in 1971, her journey from the American West to the boardrooms of the world’s energy giants is a study in steady ambition. After her degrees in ocean and chemical engineering at Massachusetts Institute of Technology, she launched her career at ExxonMobil. At the American oil company, young Meg cut her teeth in technical, operational and leadership roles across continents. From offshore oil field modelling in Texas to managing LNG operations in Indonesia and overseeing African projects, Ms O’Neill built a reputation as a seasoned engineer and executive during more than two decades at ExxonMobil.

She then moved to Woodside Energy in 2018. Initially joining as chief operating officer, Ms O’Neill swiftly rose to become CEO and managing director by 2021. Under her leadership, Woodside completed a transformative merger with BHP’s petroleum arm – a deal that doubled the company’s size and positioned it among the top independent oil and gas producers globally. Her tenure at Woodside was not without controversy. The Australian company’s shareholders generally applauded her strategies to push growth and stronger production. But environmental activists often challenged her expansion plans, highlighting the tension between fossil fuels and decarbonisation goals.

At BP, Ms O’Neill will step into a role, fraught with unresolved questions. The British oil company has endured a tumultuous leadership carousel in recent years, with two CEOs departing in quick succession and shareholders increasingly vocal about strategic direction. BP’s previous focus on renewable energy and “integrated” energy aspirations has left many investors dissatisfied, as earnings have lagged behind rivals like ExxonMobil and Shell. The company’s board, now chaired by Albert Manifold, has signalled a renewed emphasis on oil and gas strength, a pivot that aligns with Ms O’Neill’s reputation for operational rigour.

Her appointment at BP follows the sudden departure of Murray Auchincloss, who had only held the CEO position since early 2024. Until Ms O’Neill arrives next spring, BP veteran Carole Howle will serve as interim CEO. The move is widely interpreted as a strategic reset. Ms O’Neill’s mandate is clear about revitalising BP’s core business, lifting shareholders’ confidence and guiding the company through an energy landscape still defined by volatile markets and geopolitical tensions.

As she prepares to take the helm of BP next year, Ms O’Neill embodies both a break from tradition and a bet on seasoned industry expertise to navigate uncertainty. The new BP chief’s efforts to steer Europe’s iconic oil major towards profitability and relevance will define her legacy and perhaps the future of BP itself.