As BP profits more than double as Iran war boosts fuel prices, what’s the salary of their CEO Meg O'Neill?
BP has shared their first quarter 2026 results which show they have more than doubled their profits.
In their first quarter 2026 results, BP has beaten their profit expectations as it has benefited from high prices from the Iran war. In the highlights section in the press release released by BP, the company has said: “1Q 2026 underlying RC profit $3.2 billion; operating cash flow $2.9 billion after taking into account a $6.0 billion adjusted working capital* build(c) largely driven by the rising price environment in addition to the seasonal inventory builds.”
Meg O Neill, BP’s CEO has said: “It’s a privilege and an honour to serve as bp’s CEO. I join at a time when our industry is operating in an environment of conflict and complexity, playing a vital role in keeping energy flowing. bp’s team has been working relentlessly to keep our assets producing safely, reliably and efficiently. We are working with customers and governments to get fuel where it’s needed, helping minimize disruption and the impact it can have on people’s lives.
“Overall, our business continues to run well. This was another quarter of strong operational and financial delivery, and we made further progress towards our 2027 targets. We had high plant reliability, high refining availability and increased production in the Gulf of America and at bpx Energy, our US onshore business – keeping production levels steady despite the ongoing disruption.
“We also made progress on sustainability, continuing to embed it in the way we work and building on the 37% reduction in operational emissions last year, compared to our 2019 baseline. We are committed to doing business the right way: providing secure, affordable energy – and doing it sustainably. bp is a great company, with highly skilled people and world-class assets.
“We are heading in the right direction, strengthening the balance sheet and continuing to accelerate delivery. Now, we have to capitalize on the opportunity that exists across our portfolio, simplifying how we work, unlocking growth and driving improved returns. That is how we will make bp a simpler, stronger, more valuable company.
Who is BP’s CEO Meg O’Neill, and what’s her salary?
American Meg O’Neill was the CEO of Woodside Energy before joining BP as chief executive officer on April 1, 2026. Before joining Woodside Energy, according to her Bio, she had “spent 23 years with ExxonMobil in a variety of technical, operational and senior leadership roles in Houston, New Orleans, Indonesia, Canada and Norway, as well as regional and global leadership positions.”
According to reports, Meg O’Neill who is the first woman to serve as chief executive officer at BP, earns a base salary of £1.6m.