INTERNATIONAL - BP on Friday appointed head of upstream Bernard Looney as chief executive to succeed Bob Dudley when he retires next year after leading the oil and gas company back to growth from near collapse in 2010.
Looney, 49, took charge of BP’s oil and gas production, or upstream operations, in 2016 as the sector grappled with the aftermath of the 2014 collapse in oil prices.
The Irishman’s energetic management style was quickly felt as he spearheaded BP’s drive to improve performance through cost cutting and digitalization.
He has led BP through one of its periods of fastest growth in oil and gas production, with output rising up by around 20% since 2016 with the launch of more than 20 new major projects around the world and the acquisition of BHP’s portfolio of US shale assets this year for $10.5 billion in BP’s biggest deal in three decades.
As Chief Executive, he will be charged with continuing to adapt BP to the transition to lower carbon energy as pressure from investors to meet climate change targets grow.