A woman will run British Petroleum

A woman has been appointed CEO of the oil and gas company British Petroleum. Her name is Meg O'Neill. This is the first appointment to this position from an outsider in more than a century and the first woman to head one of the five largest oil companies. The company is returning to fossil fuels.

O'Neill is an Exxon veteran, xrust notes. She will take the helm of CEO in April. Her predecessor suddenly left. This is the second change of CEO in a couple of years. The British oil giant is looking to improve its profitability and beat its rivals. Exxon is among them.

The company began a major strategic overhaul earlier this year. It has cut billions of dollars in planned renewable energy projects and is refocusing on traditional oil and gas.

BP has pledged to sell $20 billion of assets by 2027 and cut debt and costs, including its Castrol lubricants unit.

Xrust Woman to run British Petroleum