BP CEO Bernard Looney resigns

13 September 2023

BP CEO Bernard Looney has resigned after less than four years on the job, the British energy producer has announced.

The resignation of Looney is effective immediately. The company’s chief financial officer, Murray Auchincloss, will serve as interim CEO, BP said in a statement on 12 September.

The change came as Looney informed the company that he was not “fully transparent in his previous disclosures” about relationships with colleagues before becoming CEO, London-headquartered BP said.

“In May 2022, the Board received and reviewed allegations, with the support of external legal counsel, relating to Mr Looney’s conduct in respect of personal relationships with company colleagues. The information came from an anonymous source.

“During that review, Mr Looney disclosed a small number of historical relationships with colleagues prior to becoming CEO. No breach of the Company’s Code of Conduct was found. However, the Board sought and was given assurances by Mr Looney regarding disclosure of past personal relationships, as well as his future behaviour.

“Further allegations of a similar nature were received recently, and the company immediately began investigating with the support of external legal counsel. That process is ongoing.  

“Mr Looney has today [12 September] informed the company that he now accepts that he was not fully transparent in his previous disclosures. He did not provide details of all relationships and accepts he was obligated to make more complete disclosure.

“No decisions have yet been made in respect of any remuneration payments to be made to Mr Looney.”

The news of the resignation was first reported by the Financial Times.

Looney took over as CEO of BP in 2020 after previously leading BP’s upstream oil and gas business, focused on exploration and production.

https://image.digitalinsightresearch.in/uploads/NewsArticle/11143318/main.jpg
Indrajit Sen
Related Articles
  • Lebanon sets October deadline for power generation projects

    23 September 2026

     

    Lebanon’s Electricity Regulatory Authority (ERA) has extended the deadline for private sector companies to submit expressions of interest (EoIs) for several upcoming power generation projects.

    The new deadline is 15 October. The original deadline was 30 September.

    The regulator said the extension follows “requests received from interested applicants for additional time to finalise and submit the required documentation”.

    The EoI covers up to five grid-connected solar photovoltaic projects with a combined installed capacity of 350 megawatts-peak. The projects are also expected to include battery energy storage systems with a combined capacity of 1,000 megawatt-hours. 

    The regulator is also seeking proposals for distributed dual-fired thermal power plants with net capacities ranging from 20MW to 100MW. The plants are expected to run on natural gas as the primary fuel and heavy fuel oil as a backup. 

    The ERA invited companies to submit EoIs at the beginning of August.

    On 11 August, the ERA issued its first set of clarifications following queries regarding the EoI. The clarifications confirmed that “proposed dual-fired plants should be gas-ready”, with natural-gas infrastructure planned but no implementation timeline yet available.

    The ERA also said key power purchase agreement (PPA) terms, including duration, tariff structure and indexation mechanisms, will be determined “during a future procurement process”.

    Electricity reforms

    The EoI comes as the government advances wider reforms to Lebanon’s electricity sector. On 4 September, the Higher Council for Privatisation and Partnership discussed steps to transform the state utility Electricite du Liban (EDL) into a company, including creating a new entity, transferring its assets, and taking measures to protect employees’ rights during the transition.

    The government said the restructuring aims to improve the financial sustainability of the electricity sector, recover costs and improve electricity supply. 

    On 18 September, the council discussed a draft decree to establish the new EDL company, evaluate its assets and separate its activities. However, it deferred a decision for further study.

    The ERA was established earlier this year, more than two decades after it was envisaged under Law No. 462/2002 but not implemented due to political delays. The Energy & Water Ministry and EDL previously oversaw the electricity sector.

    Lebanon’s electricity sector continues to face insufficient generation capacity, fuel supply constraints, ageing generation assets and limited grid flexibility. These challenges have led to prolonged electricity shortages and increased reliance on private diesel generation and distributed solar systems, prompting the government to seek additional private investment in new generation capacity. 

    According to the EoI document, the projects are expected to be structured as independent power producer (IPP) schemes. The competent public authority will determine any future contractual arrangements, including PPAs, under the applicable legal framework. 

    The ERA said the EoI is open to private investors, IPP operators, engineering, procurement and construction contractors, equipment suppliers and consortiums. It aims to assess market interest, identify potential generation projects, and evaluate the technical and financial capabilities of prospective developers. 

    Respondents must provide information on their technical and financial capabilities, proposed project locations, grid connection plans and relevant project experience. 

    https://image.digitalinsightresearch.in/uploads/NewsArticle/19906210/main.jpg
    Mark Dowdall
  • Jedco maps next phase of Jeddah airport expansion

    22 September 2026

     

    Jeddah Airports Company (Jedco) has outlined plans for the next phase of expansion at King Abdulaziz International airport (KAIA) in Jeddah.

    The programme comprises six upcoming contractor packages spanning airside works, terminal upgrades and utilities as Jedco advances its long-term expansion plans.

    The opportunities include airfield rehabilitation; a five-year construction framework covering multiple workstreams and facility types; a Terminal 3A (T3A) package; Terminal 1 (T1) optimisation; a fuel farm; and Concourse C works.

    The packages cover terminal buildings and ancillary facilities, runways, taxiways and aprons, hangars, fuel systems, airside facilities, supporting infrastructure and utility networks.

    Tendering and award activity will be staggered over the next two years. Airfield rehabilitation is targeted for Q3 2026. The construction framework is scheduled for Q4 2026 and will run for five years.

    The T3A package is planned for Q1 2027 and will be delivered under an early contractor involvement contract. Local contractors are encouraged to bid as part of a joint venture with an experienced international partner.

    T1 optimisation is planned for Q4 2027, the fuel farm for Q2 2027, and Concourse C – currently the latest of the six milestones – for Q2 2028.

    The new packages add detail to Jedco’s wider expansion plans disclosed in 2023, when it was reported that the company would invest SR115bn ($31bn) to increase KAIA’s capacity to 114 million passengers a year, with an overall completion target of 2031.

    Jedco has recently awarded several significant contracts linked to the airport’s upgrade programme.

    In November 2024, a joint venture of local Algihaz Contracting and Turkey’s TAV was awarded a contract to rehabilitate the South Terminal to serve Umrah and Hajj pilgrims, with Singapore’s Surbana Jurong acting as consultant.

    Earlier that year, Jedco also awarded France’s Alstom a contract to increase the capacity of the Innovia automated people mover at Terminal 1, including new cars and upgrades to signalling, communications and controls.

    Surbana Jurong is expected to play a leading role in future KAIA expansion plans and is currently providing technical advisory and project management consultancy for more than 100 capital projects for Jedco, valued at over SR6bn ($1.6bn).

    These upgrades are expected to boost KAIA’s annual capacity in line with Saudi Arabia’s Vision 2030 and National Aviation Strategy, enhancing the experience for domestic travellers and millions of Hajj and Umrah pilgrims.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/19877992/main.jpg
    Yasir Iqbal
  • Contractor wins $105m Medina university hospital deal

    22 September 2026

     

    Riyadh-based construction firm Al-Mansouria General Contracting Company has been awarded a SR396m ($105.6m) contract to complete the remaining construction works on the Taiba University Hospital project in Medina.

    The contract scope includes structural completion, remaining civil works, mechanical, electrical and plumbing installations, specialised clinical fit-outs and medical gas infrastructure to bring the long-stalled facility into operation.

    Located on King Khalid Road along Medina’s Third Ring Road, the teaching hospital will have a capacity of 563 beds.

    The contract duration is three years, with delivery targeted for late 2029.

    The latest award follows a prolonged procurement cycle that began more than a decade ago as part of a public budget drive to expand Saudi Arabia’s higher education infrastructure.

    The project’s first phase was initially signed in December 2011 with local firm Al-Muhaidib Contracting under a SR500m ($133.3m) contract.

    Groundbreaking for the eight-storey complex took place in July 2013. The project covers a gross floor area of more than 200,000 square metres.

    Progress stalled shortly thereafter due to reported structural delays and the reallocation of public capital budgets across the kingdom’s social infrastructure pipeline.


    READ THE SEPTEMBER 2026 MEED BUSINESS REVIEW – click here to view PDF

    Nuclear power ambitions gather pace; Kuwait keeps dealmaking alive despite war; Region invests in raising gas processing capacity.

    Distributed to senior decision-makers in the region and around the world, the September 2026 edition of MEED Business Review includes:

    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/19870032/main.jpg
    Yasir Iqbal
  • Oman tenders Thumrait Industrial City infrastructure

    22 September 2026

     

    Oman’s Public Establishment for Industrial Estates (Madayn) has tendered an estimated RO15m ($39m) contract to develop infrastructure for Thumrait Industrial City.

    The tender was issued on 14 September, with bids due by 12 November.

    The scope covers site-wide utilities and services, including an internal road network, stormwater channels and culverts. It also includes installing sewerage and water networks, along with landscaping works.

    In addition, Madayn intends to build plug-and-play industrial units and a facilities building.

    The first phase of the development will cover about 120,000 square metres (sq m).

    Thumrait Industrial City is located in Oman’s Dhofar Governorate and spans an area of more than four million sq m.

    The project location is close to concession blocks, quarry sites and the Najd agricultural areas. It is positioned to attract industrial investments in sectors such as mining and minerals processing (including gypsum and cement), food production, and a range of light and general manufacturing activities.

    In March, Madayn said it is preparing to invest more than RO245m ($637m) to upgrade and expand infrastructure across its industrial cities between 2026 and 2030, as part of efforts to attract new investment and advance economic diversification.

    According to media reports, Madayn chief executive Dawood Bin Salim Al-Hadabi said the programme is part of an expanded, phased plan aligned with Oman Vision 2040 and the authority’s long-term Madayn 2040 strategy.

    The objective is to deepen Oman’s industrial base and spread growth across the sultanate’s governorates.

    Madayn said the pipeline comprises about 90 strategic projects to improve industrial-city infrastructure, extend serviced land and increase the overall ease of doing business for investors.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/19866218/main.jpg
    Yasir Iqbal
  • Kuwait halves drilling contractor pool

    22 September 2026

     

    State-owned upstream operator Kuwait Oil Company (KOC) has reduced the number of approved contractors for onshore drilling and shallow-well maintenance from 51 to 24.

    Firms that are no longer qualified include major contractors such as Italy’s Saipem, Oklahoma-based Helmerich & Payne and Houston-based Patterson-UTI Energy.

    The latest list still includes a wide range of Kuwaiti, regional and international companies, according to the latest update on its electronic system, published on 21 September 2026.

    The full list of contractors that are now qualified to participate in tenders is:

    • Burgan Company for Well Drilling, Trading & Maintenance (Kuwait)
    • Kuwait Drilling Company (Kuwait)
    • Sun Drilling Kuwait (Kuwait)
    • TDL Kuwait for Oil Rigs & Natural Gas Extraction Activities, Services and Facilities (Kuwait)
    • United Precision Drilling (Kuwait)
    • Abraj Energy Services (Oman)
    • Adnoc Drilling Company (UAE)
    • Arabian Drilling Company (Saudi Arabia)
    • Anton Oilfield Services (China)
    • China Oilfield Services (China)
    • Egyptian Drilling Company (Egypt)
    • CNPC Bohai Drilling Engineering Company (China)
    • Great Wall Drilling Company (China)
    • John Energy (India)
    • Kerui Oilfield Service (China)
    • KCA Deutag Drilling (Germany)
    • Mohammed Al-Barwani Petroleum Services (Oman)
    • Nabors Drilling International (US)
    • National Drilling & Services Company (Oman)
    • Sea & Land Drilling Contractors (Oman)
    • Sinopec International Petroleum Service Corporation (China)
    • Karamay Jianye Energy (China)
    • Modern Drilling Company (Egypt)
    • Grey Wolf Drilling International (US)

    An earlier list, which was published on 11 February, included 51 qualified companies.

    The reduction in qualified drilling contractors follows KOC’s notice on 27 April this year, informing existing qualified contractors that they would need to reapply.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/19863744/main3435.jpg
    Wil Crisp