BP’s (BP/ LN) new CEO O’Neill has told staff she plans to simplify the Co. into two main business units, FT reports
Importance
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- O’Neill said BP would be reorganised into a business focused on oil and gas production and another covering refining, distribution and retail, although she did not set out a timeline for the changes.
- The company's trading arm will sit outside the new structure and continue to report to deputy chief executive Carol Howle.