New CEO set to simplify bp structure
bp's new chief executive Meg O'Neill announced plans to simplify the company by consolidating its structure into two primary business units, AzerNEWS reports via the Financial Times.
While no exact timeline has been put out, the move was marketed as part of an effort to create "a simpler, stronger, more valuable" company built around "a clear upstream and downstream."
The change would mark a return to a traditional model focused on oil and gas production alongside a separate unit for refining, distribution, and retail.
The reorganization reverses the complex five-unit structure implemented in 2020 during the company's shift toward green energy.
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