Meg O’Neill took the reins on April 1 with a mandate to streamline BP by shifting to a traditional upstream-downstream model. She has outlined plans to divest low-return clean-energy assets and has called for a leaner management structure to accelerate turnaround efforts after years of underperformance.

On her second day, O’Neill elevated trading chief Carol Howle to deputy CEO and has since met individually with senior vice presidents to assess roles and potential changes. The move follows the departure of Emma Delaney, head of customers and products, as part of the broader leadership shakeup.

BP forecasts Q1 net income of $2.6 billion, driven by oil trading gains as Brent crude averaged $81.13/barrel on Middle East tensions. The company projects net debt of $25–27 billion and anticipates refining margin gains of $0.1–0.2 billion, even as shares dipped slightly on the restructuring news.