-- BP (BP) plans to simplify its business into two main divisions focused on oil and gas production and downstream operations, marking a shift away from its earlier energy transition strategy, multiple media sources reported Tuesday.
Chief Executive Meg O'Neill told staff on Tuesday that the company would reorganize into one unit centered on upstream production and another covering refining, distribution and retail, though she did not provide a timeline or name new leadership, the Financial Times reported.
Reuters said BP operates through three core divisions, a gas and low-carbon unit, an oil production and operations branch, including refineries and US onshore assets, and a customers and products arm for retail and lubricants.
BP did not immediately reply to a request for comment from.
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