BP to Merge Three Segments into Two with New Upstream and Downstream Chiefs
BP•BP will consolidate its three existing segments into two primary segments, Upstream and Downstream, effective July 1, 2026, with Gordon Birrell and Richard Harding appointed executive vice-presidents. The restructuring follows the dismissal of chair Albert Manifold and aims to simplify operations, improve performance and focus on value growth.
1. Reorganization Overview
BP will consolidate its three existing reporting segments—production and operations, gas and low-carbon energy, and customers and products—into two primary business units, Upstream and Downstream, effective July 1, 2026. The move aims to streamline decision-making, reduce complexity, and sharpen focus on value creation.
2. Leadership Structure
Gordon Birrell has been named executive vice-president of the Upstream segment, while Richard Harding will serve as interim executive vice-president of Downstream pending recruitment of a permanent leader. Both bring extensive operational leadership experience across BP’s global portfolio.
3. Governance Context
The overhaul follows the unanimous board decision to remove Albert Manifold as chair and director due to serious governance and conduct concerns. His departure underscores the board’s commitment to oversight and strategic discipline as the company executes its simplification plan.
4. Segment Scope and Reporting
The Upstream unit will oversee exploration, development, production, upstream joint ventures, renewable natural gas, and carbon capture and storage. The Downstream unit will encompass refining, terminals, pipelines, aviation, biofuels, hydrogen, mobility, convenience and the Castrol brand, while Supply, Trading & Shipping continues to support both divisions. External financial reporting will maintain the current three-segment model until December 31, 2026.
