A bittersweet day

It has been a bittersweet day for me. I have just announced my intention to step down early next year, after 40 years at BP and approaching a decade as CEO.

I’ve given my whole working life to the company, and much as I will always love the job, it feels like the right time to go.

BP is in really good shape, has exciting plans, and exactly the right person is in place ready to take over.

Bernard Looney has risen through the ranks at BP. That means he knows the company inside out and has the track record to prove it. In the part of the business he currently runs, production is up, costs are down and BP’s carbon emissions have been cut by three million tonnes in the past two years.

Having said that, Bernard is not at all your typical oil executive. He’s obsessive about digital technology making energy cleaner and better. He’s uncompromising on talent getting an equal chance, whoever they are and wherever they come from. And he is on a mission to take on the stigma associated with mental health issues.

Those are just some of qualities that persuaded the BP Board to appoint him from a really strong field, and he’s going to do a great job leading BP through the energy transition. And the team at BP see him as an inspiring and progressive leader. That came across loud and clear during the global webcast we held this afternoon.

That’s not it from me on here just yet though. I’ll have much more to share before I retire.