Announcement • 10h
Bp plc Announces Executive Changes BP PLC announced that Carol Howle will retire from BP in the third quarter after 26 years with the company. Carol Howle was named deputy CEO less than three months before her retirement announcement and has been executive vice president of supply, trading and shipping since 2020. BP's previous deputy CEO was Lamar McKay, who held the role from 2016 until 2019, when he became chief transition officer. Sam Skerry will replace Howle as executive vice president of supply, trading and shipping, effective August 1, 2026. Skerry has been with BP for almost 30 years, most of which in trading across oil, natural gas and derivatives. Most recently, she has been senior vice president of mergers and acquisitions and business development. BP also announced that Kerry Dryburgh, executive vice president of people, culture and communications, made a personal decision to leave the company after 16 years and will step down in the third quarter. Sonya Adams will replace Dryburgh as BP's new executive vice president of people and culture, effective August 1, 2026. Adams has been with BP for more than 25 years in a variety of senior leadership roles across Asia Pacific, Europe and the U.K. She has worked in customers and products, finance, and transformation, and she most recently has served as chief of staff to the CEO. In May 2026, BP's board of directors unanimously decided to remove Albert Manifold from both the chairman position and the board after serious concerns were raised related to important governance standards, oversight and conduct. Manifold had only been in the chairman role since October 1, 2025. Ian Tyler, who has been on BP's board since April 2025, has been named interim chair while the board works to select a permanent replacement. BP.
Live News • Jun 23
BP and Eni Approve Major Angola Oil Project as Saipem Wins $1 Billion Contract BP and Eni, through their Azule Energy joint venture, approved the final investment decision for the Greater PAJ offshore oil development in Angola, a cross-block project targeting first oil in the first half of 2029 and involving a large FPSO plus subsea work by Saipem under a $1b contract and flexible flowlines and risers from TechnipFMC.
The Greater PAJ project expands BP’s upstream presence in Sub-Saharan Africa and involves partners Equinor, ANPG and Sonangol, indicating a long-term production and capital commitment with complex deepwater operations at depths up to 2,000 meters.
BP’s shares trade around £5.00, with the stock up 14.2% year to date, while the company also faces a separate lawsuit in California alleging use of artificial intelligence to coordinate retail gasoline prices.
This combination of a large, long-dated offshore development and fresh legal risk gives BP investors a mix of future production potential and ongoing headline and regulatory exposure to weigh. Announcement • Jun 19
BP Reportedly Holds Talks to Sell North Sea Oil and Gas Production Portfolio to Ithaca Energy BP p.l.c. (LSE:BP.) held talks to sell its North Sea business has been seized on by critics of the oil and gas windfall tax although it made clear some firms remain keen to invest in the area. BP was reported this month to have held talks about the sale of its entire North Sea oil and gas production portfolio to Ithaca Energy plc (LSE:ITH) for £2 billion. The sale would have been loaded with symbolism amid fears the once mighty North Sea industry is on a path of decline that will leave it playing only a minor role in the global energy ecosphere. London-based BP has been active in the North Sea since the early days of the basin. The group employs 1,000 people in Aberdeen and offshore operations run from the city. These include stakes in the Clair field West of Shetland, which is the biggest on the UK Continental Shelf. Ithaca is a relative newcomer compared to BP. It is owned by an Israeli corporation. The talks between the firms were reported by the FT, which said new BP chief executive Meg O'Neill had expressed concern about the North Sea fiscal regime. A veteran of the US oil business, Ms. O'Neill was recruited to shake-up BP following a period in which the firm invested heavily in low carbon energy projects only to decide it could make more money in the hydrocarbon production business. The report of the talks between BP and Ithaca provided ammunition for opponents of the windfall tax, who have claimed it has made the North Sea ‘uninvestable’. But those who try to use the talks between BP and Ithaca to justify attacks on the levy ignore the fact the discussions indicate serious players are keen to take the place of firms that quit the North Sea. Ithaca was probably confident about funding a £2 billion deal because the company is in the happy position of generating huge amounts of cash in the North Sea, where it has become a major player on the back of a series of acquisitions.