Sources say that BP CEO told staff in June to expect a reorganisation of the company.

Three sources said that BP CEO Meg O'Neill notified staff of a reorganization?into 'two main business unit' - upstream & downstream - starting in June. BP announced in April that it would restructure according to this plan, but did not provide a timetable. O'Neill took over as oil major's 5th chief on April 1, becoming the first to make such a move. BP has three major business units. The gas and low-carbon unit covers gas-focused production, while the oil production and operation unit includes oil?output and its U.S. Onshore Business?and refinement. Customers and Products includes fuel sales, petrol station and lubricants. Two sources have confirmed that the gas business, BP's carbon storage and capture initiatives, and low carbon and biofuels would be moved to the upstream division, while the downstream unit will focus on the biofuels and low carbon fuels. O'Neill, and chair Albert Manifold, have emphasized a "simpler BP" with a renewed focus on investment in oil and gas. BP operated with upstream and down stream units until then-CEO Bernard Looney reorganised it in 2020 as part of a push to renewables. This strategy was criticised by investors. "In order to become a stronger, simpler and?more valuable BP we intend to build an organization with a clear upstream-and-downstream," BP stated in response to the story. Reporting by Stephanie Kelly & Shadia Nasralla. (Editing by Alex Richardson, Mark Potter and Mark Potter.)

(source: Reuters)