Meg O’Neill, CEO of Woodside Energy, has resigned to take over as Chief Executive Officer of BP, marking one of the most consequential executive moves in Big Oil in recent years. The appointment makes O’Neill BP’s first female CEO in its 116-year history and signals a decisive shift in strategy for the UK supermajor.

BP’s latest earnings call made something very clear: the Eagle Ford is back — and performing better than ever.
Modern drilling and completions technology are unlocking new value from old rock, and BP says two techniques are leading the way: downspacing and refracs.

BP (NYSE: BP) has announced the sale of non-controlling interests in its Permian and Eagle Ford midstream assets to funds managed by Sixth Street for total consideration of $1.5 billion. The assets are held by BP’s U.S. onshore subsidiary, bpx energy, and include an extensive portfolio of pipelines and processing facilities that support upstream production in two of the most active shale basins in North America.

British energy major BP (NYSE:BP) is doubling down on its U.S. offshore strategy, moving forward with a $5 billion deepwater development in the Gulf of Mexico that underscores the company’s long-term commitment to oil production.

With a sharp pivot back to hydrocarbons and a clear-eyed focus on capital efficiency, BPX is emerging as a key growth engine for BP. The second half of 2025 will be defined by continued infrastructure ramp-up, disciplined well delivery, and maximizing cash returns from top-tier shale acreage.

One of the brightest spots for BP in Q1 2025 came from its exploration success in the Gulf of America, BP announced a major new discovery in the region, contributing to what it described as its “best quarter for exploration in a very long time.”

BP is doubling down on its U.S. natural gas production, particularly in the Haynesville Basin, as domestic gas prices surge. CEO Murray Auchincloss, speaking at the CERAWeek conference in Houston, highlighted the company’s renewed focus on oil and gas, marking a strategic pivot from its previous emphasis on renewable energy.

Kyle Koontz is the new CEO of BPX Energy, BP’s U.S. onshore oil and gas division. He took over the role after previously serving as BPX’s Vice President for Development, where he played a critical role in overseeing BPX’s growth strategy and operational excellence in drilling and completions. Koontz has been with BP since 2016 and has been instrumental in transforming BPX’s onshore operations, particularly following BP’s acquisition of BHP Billiton’s U.S. onshore assets.

A major highlight of bpx energy’s modernization efforts is its investment in electrical infrastructure. By the end of 2023, the company had electrified 95% of its Permian wells, shifting away from diesel and natural gas-powered operations to electricity.

BP’s recent projections suggest that global oil demand will peak in 2025, largely driven by the rapid growth of renewable energy sources such as solar and wind. This transition is expected to contribute to a significant reduction in global carbon emissions by the mid-2020s. BP’s annual Energy Outlook study outlines two potential scenarios: the current trajectory of the energy transition and a pathway to achieve net-zero emissions by 2050.