BP's upstream unit will be headed by Gordon Birrell and downstream by Richard Harding

BP announced on Tuesday that Gordon Birrell, a company veteran, will lead the upstream?unit and Richard Harding is the interim head of its downstream?unit. This change was part of BP's earlier announced restructuring into?two major business segments. BP fired its former Chairman Albert Manifold 'last month due to bullying allegations. It is now trying to rebuild investor confidence by cutting costs and reducing debt while focusing on its core oil & gas businesses.

Upstream, which follows a traditional?integrated oil-and-gas company structure, will bring together BP’s oil and natural gas activities including exploration, production, and joint ventures as well as its renewable natural gas, and carbon capture businesses.

The downstream sector includes refinery, terminals and pipelines as well as mobility and convenience.

The new structure will be implemented for 'operational' purposes on?July 1?while it will come into effect for external purposes like financial reporting from January 1, 2027. Birrell was in charge of BP's Production and Operations business after holding many other leadership roles within the?group. Harding replaces Emma Delaney who was BP's former head of the products and customers business. She left BP last April.

(source: Reuters)