Wael Sawan, Shell’s chief executive, has held the position at the oil giant since 2023 - Mark R Cristino/EPA-EFE/Shutterstock Shell’s chief executive is on course to become one of the best-paid executives on the London Stock Exchange as his company’s move away from green energy pays off. Wael Sawan could see his total pay packet jump by £4.5m to a maximum £19m a year under proposals drawn up by the FTSE 100 company. That would make him one of the country’s highest paid blue chip executives. Other high- ...

A journey through Jharkhand reveals why coal remains embedded in India's economy, politics and daily life — and what it would take to break free. Read more: https://t.co/knjbnVg77o📷️: Clara Ferreira Marques/Bloomberg https://t.co/kKeISAiIoK ...

Core Viewpoint - BP has appointed Meg O'Neill as its new CEO, marking the fourth leadership change in six years, as the company aims to enhance performance and shareholder growth while reestablishing itself as a market leader in the oil and gas sector [1][2]. Leadership Changes - Meg O'Neill, previously the leader of Woodside Energy, will be the first woman to serve as CEO of a major oil company [2]. - O'Neill will officially take over in April 2024, succeeding Murray Auchincloss, who served as interim CEO and was appointed permanently in January 2024 [3]. - Auchincloss expressed confidence in BP's future growth under O'Neill's leadership after over three decades with the company [4]. Board Restructuring - Albert Manifold was appointed as the new chairman of BP's board, coming from a background in the building materials industry [5]. - The board changes are part of a broader strategy to enhance BP's competitiveness in the oil and gas market, especially after activist investor Elliott Investment Management acquired a 5% stake in the company [5]. Historical Context - BP's share price has struggled compared to competitors like Shell and ExxonMobil, partly due to ongoing financial liabilities from the 2010 Deepwater Horizon disaster, which costs the company around $1 billion annually [6]. - The company has faced significant losses, including a $25 billion write-off related to its investment in Russian oil company Rosneft following the invasion of Ukraine [7]. Strategic Shifts - Under former CEO Bernard Looney, BP attempted a significant pivot towards renewable energy but faced backlash and leadership changes due to internal issues [8]. - The company has since scaled back its green energy commitments and returned to fossil fuels, acknowledging that it may have moved "too far, too fast" in its transition to clean energy [9].

Core Insights - Meg O'Neill is a prominent figure in the fossil fuel industry, particularly known in Asia and Australia, and has been the CEO of Woodside since 2021 [2][3] - Under her leadership, Woodside has achieved operational excellence and made significant moves, including a billion-dollar acquisition of oil and gas assets from BHP [2][3] - O'Neill has shown ambition by attempting to acquire Australia's largest rival, although she ultimately decided against the deal due to value concerns [3] Company Strategy - O'Neill is recognized for her strong defense of fossil fuels, emphasizing the continued need for oil and natural gas for decades to come [3][5] - BP's recent strategic shift back towards fossil fuels aligns with O'Neill's expertise, making her an appealing choice for leadership as the company aims to reset its strategy [5][6] - Her track record at Woodside demonstrates her ability to enhance existing assets and strategically consider new acquisitions, which may address investor concerns about BP's pace of strategic movement [5][6]

Tell us then, David, about what we know about Meg O'Neill and what she's achieved at Woodside. Morning megadeal may be an unfamiliar name to people in Europe, to too many in the market and in London and those around BP. But she's an she's an incredibly well known figure in Asia, and particularly in Australia.Now, a really experienced veteran fossil fuels executive 20 plus years at an X on and a real focus on engineering and operations. She became the CEO of Woodside, Australia's biggest oil and gas company, ...

China’s fossil fuel power plants are on track to chart their first annual drop in generation in a decade as renewables flood the grid to meet rising demand https://t.co/3uRDUHNZse ...

I want you to take a second and think about your childhood. cast your mind back to those simpler days when all we had to do to fix all of our ecological problems was to remember a conveniently alliterative phrase. Reduce, reuse, recycle.What a time. What a scam. Plastic recycling is the red herring of the century.It brilliantly messages us away from holding the companies that are creating the pollution accountable and instead urges us to police our friends, our families, and ourselves. The Washington Post r ...

The Energy Department is renaming its National Renewable Energy Laboratory to the National Laboratory of the Rockies, a rebranding to align it with the Trump administration’s focus on fossil fuels https://t.co/daf9TajFoX ...

The European Union is closing in on a deal to phase out Russian fossil fuels, a move that will embed into law the end of the bloc’s reliance on its former top energy supplier https://t.co/vxQypIhzFx ...

Brazil's Marina Silva said the "gravitational pull" of the US helped undermine the plan at COP30 for a road map to exit fossil fuels https://t.co/OADwGeTsu8 ...