BP is taking steps to simplify its organizational structure by combining its regions, corporates and solutions organization into businesses and functions and restructuring the roles of its executive team, the company announced in an April 18 press release.
BP will now be supported by five functions: finance; technology; strategy; sustainability and ventures; people and culture; and legal. The company will continue to operate its three businesses—production and operations, gas and low carbon energy and customers and products—enabled by shipping and trading.
BP’s executive team is also reducing to 10 members with the retirement of Executive Vice President of Gas and Low Carbon Energy Anja-Isabel Dotzenrath. The previous leader of the now integrated regions, corporates and solutions organization, William Lin, will replace Dotzenrath.
Lin has worked for BP for 28 years, holding senior management roles in Asia Pacific, Egypt and the U.S., and as head of BP’s group chief executive office and as COO of the company’s international upstream portfolio.
Executive Vice President of Innovation and Engineering Leigh-Ann Russell is also leaving BP and will be replaced by Emeka Emembolu as the new executive vice president of technology.
Emembolu has been with BP for 25 years, starting as an offshore engineer before running BP’s North Sea business. He has also held a range of technical positions leading BP’s business in the Gulf of Mexico, Canada, North Africa and Alaska.
BP said the organizational changes will reduce duplication and reporting line complexity, but will not affect BP’s financial reporting structure.
CEO Murray Auchincloss said in the announcement that “BP’s destination from IOC [international oil company] to IEC [integrated energy company] is unchanged—and we need to deliver as a simpler, more focused and higher value company. These changes will help us do just that, reducing complexity within BP, allowing our team to focus on delivering our priorities and growing the value of BP.”
Regional teams will be restructured to report to their most relevant businesses, particularly teams formerly part of regions, corporates and solutions.
The Latin America team will now report to production and operations, led by Gordon Birrell, and the America and China teams will now report to gas and low carbon energy, led by Lin. The strategic corporates and partnerships team and central non-operated joint ventures team will now also report to Lin. The U.K. and Europe teams will now report to customers and products, led by Emma Delaney.
Recommended Reading
Barnett & Beyond: Marathon, Oxy, Peers Testing Deeper Permian Zones
2024-04-29 - Marathon Oil, Occidental, Continental Resources and others are reaching under the Permian’s popular benches for new drilling locations. Analysts think there are areas of the basin where the Permian’s deeper zones can compete for capital.
CEO: Continental Adds Midland Basin Acreage, Explores Woodford, Barnett
2024-04-11 - Continental Resources is adding leases in Midland and Ector counties, Texas, as the private E&P hunts for drilling locations to explore. Continental is also testing deeper Barnett and Woodford intervals across its Permian footprint, CEO Doug Lawler said in an exclusive interview.
To Dawson: EOG, SM Energy, More Aim to Push Midland Heat Map North
2024-02-22 - SM Energy joined Birch Operations, EOG Resources and Callon Petroleum in applying the newest D&C intel to areas north of Midland and Martin counties.
TPH: Lower 48 to Shed Rigs Through 3Q Before Gas Plays Rebound
2024-03-13 - TPH&Co. analysis shows the Permian Basin will lose rigs near term, but as activity in gassy plays ticks up later this year, the Permian may be headed towards muted activity into 2025.
CNX, Appalachia Peers Defer Completions as NatGas Prices Languish
2024-04-25 - Henry Hub blues: CNX Resources and other Appalachia producers are slashing production and deferring well completions as natural gas spot prices hover near record lows.