Why did BP CEO Meg O’Neill say it’s 'prudent' to stop calling BP a supermajor?

Meg O’Neill said it’s 'prudent' to stop thinking of BP as a Big Oil supermajor because the company needs to compete within its own 'weight class' rather than trying to match larger rivals like Chevron, ExxonMobil, Shell, and TotalEnergies; she emphasized focusing investment on BP’s strongest businesses instead of maintaining a sprawling, uncompetitive footprint across too many basins and assets.

What strategic actions has BP taken under CEO Meg O’Neill to reflect this shift away from the supermajor model?

Under Meg O’Neill, BP has accelerated asset sales and acknowledged it has 'too many assets'; specifically, the company recently announced the sale of its UK North Sea business and, on the same earnings call, revealed plans to sell its US biogas producer Archaea Energy.

BP CEO Says It’s Prudent to Stop Calling Company a Supermajor

Aug 4, 2026

BP CEO Meg O'Neill announced a strategic pivot to abandon the 'supermajor' label, focusing on core assets rather than global footprint expansion. The company is simultaneously selling its UK North Sea business and US biogas producer Archaea Energy.

bloomberg

2026-08-04

BP CEO Says It’s Prudent to Stop Calling Company a Supermajor

BP CEO Says It’s Prudent to Stop Calling Company a Supermajor

FAQ