O’Neill’s proven track record in operational excellence and disciplined growth positions her as the ideal leader for this transformation.
Meg O’Neill’s rapid rise to the top of one of the world’s largest oil companies has been met with confidence. At a time when many oil‑company CEOs face pressure to move away from hydrocarbons, she argues that the world is still far from ending its dependence on them.
BP surprised markets by appointing an external CEO for the first time, and choosing O’Neill signaled more than a leadership change. It marked a strategic shift back toward oil and gas after BP struggled with an unsuccessful push into renewables, inconsistent financial performance, and pressure from investors to refocus on its core business.
O’Neill, currently leading Australia’s Woodside Energy, is known for her disciplined management style and her belief that natural gas—especially LNG—will remain essential long‑term. Supporters see her as the leader BP needs, while critics view her as representing an industry reluctant to reinvent itself.
Her appointment aligns with BP’s move away from renewables and toward profitability in oil and gas. She steps into the role amid political divisions over energy. In the U.S., renewed support for drilling has boosted demand for fossil fuels, while in Asia demand continues to rise. In Europe, however, BP faces stricter emissions rules and pressure to advance toward net‑zero targets.
At Woodside, she doubled oil and gas production, expanded LNG investments, and cut less profitable low‑carbon projects. Despite these achievements, she has faced criticism from environmental groups and personal threats in Australia. Financially, Woodside has invested in high‑cost projects, with profits expected to decline in 2025.
O’Neill began her career at Exxon Mobil, gained experience in global LNG markets, and later joined Woodside, becoming CEO in 2021—one of the few women leading a major energy company.
At BP, she faces a larger stage and tougher challenges: global oversupply may pressure fossil‑fuel profits, while shareholders demand better returns, cost reductions, and possibly a retreat from renewables. Analysts note that the task ahead will be enormous.
Meg O’Neill’s Career Highlights
CEO & Managing Director, Woodside Energy (since 2021)
Led Woodside’s acquisition of BHP Petroleum, creating Australia’s largest listed energy company.
