Kerryman Bernard Looney to take over as chief executive of British Petroleum

British Petroleum has announced that Irishman Bernard Looney is to take over as chief executive following Bob Dudley's decision to step down from the role after a 40-year career.

Mr Looney, 49, has been chief executive of Upstream since 2016 and a member of the company's executive management team since November 2010.

He will remain in that role until February 4, where he will take over from Mr Dudley, 64, on February 5.

Mr Looney said: "It has been a great pleasure to work with Bob and it is an honour to succeed him as chief executive. I am humbled by the responsibility that is being entrusted to me by the Board and am truly excited about both the role and BP’s future.

"Our company has amazing people, tremendous assets, and a set of core values that guide our actions, but most of all we have a desire to be better.

"I look forward to tapping into that desire and building on the strong foundation that Bob has built as we meet society’s demand for cleaner, better energy.”