BP announces the shock departure of CEO Murray Auchincloss and will install Meg O’Neill, currently CEO of Woodside Energy, as his successor, making her BP’s first female chief executive with an effective start date in early 2026.

O’Neill’s background spans Exxon Mobil and Woodside, where she championed LNG and argued for pragmatism in climate solutions, reinforcing a view that natural gas remains a long-term energy pillar.

BP executives say O’Neill’s appointment brings rigor and transformative leadership aimed at accelerating strategic and financial opportunities for growth.

Markets are discounting near-term uncertainty as Woodside’s capital-intensive LNG slate raises questions on cost, schedule, and partnership execution during a high-spend phase.

Domestically, Woodside faces concerns about under-delivery in Western Australia, including a 15% reservation policy and pressure from Pluto LNG on large users.

Western Australia’s gas supply remains under scrutiny, with undersupply criticisms tied to Pluto LNG and the 15% reservation policy.

Analysts see potential upside for Woodside with a target near A$27, while fair value suggests room to rise, though estimates span from about A$23 to A$42.

For comments and feedback, editorial inquiries can be directed to the publication’s email.

Analysts view the leadership change as a signal of impatience with restructuring and a potential driver of improved performance and capital allocation.

Woodside is framed within cyclical energy dynamics, contrasted with opportunities in capital-intensive sectors like aerospace and defense.

East Timor’s Timor LNG project remains under consideration, with a potential greenfield development starting as early as 2032, though Dili opposes gas going to Darwin.

Woodside and East Timor are studying gas delivery to East Timor from a greenfield LNG project, with development timelines eyed around 2032.