New BP chief executive Murray Auchincloss has pledged to continue the company’s transition from oil giant to “integrated energy company” after formally succeeding Bernard Looney, who resigned last year.
Auchincloss, a Canadian citizen, had been serving as interim chief executive since September 2023.
Under Looney, BP had committed to reducing its dependence on oil and gas and increasing investment in renewables.
“Our strategy – from international oil company to integrated energy company, or IOC to IEC – does not change,” Auchincloss said after his appointment. “I’m convinced about the significant value we can create.”
Helge Lund, chair of BP, says few others know the company better. “His assured leadership, focus on performance and delivery, and deep understanding of the opportunities and challenges in the energy transition will serve BP well as we continue our disciplined transformation to an integrated energy company,” he says.
Auchincloss served as BP’s chief financial officer between 2020 and 2023 and has also been the head of business development for its Upstream division. He began his career with Amoco Canada in 1992 and joined BP when the companies merged in 1998.
