Ex-BP CFO to Chair Ineos Energy Venture

Former BP CFO Brian Gilvary has been tapped to chair a new venture that will incorporate all the oil and gas assets of the UK's Ineos, the latter reported on December 16.

Gilvary retired from BP in June after a career spanning 34 years at the oil major, and was succeeded by Murray Auchincloss. Ineos chairman Jim Ratcliffe said the group was "delighted that someone of Brian's calibre has agreed to join us to head up this exciting new venture at a time of significant transformation in the energy ministry."

"We are determined that Ineos will be at the forefront of the industry and that Brian will provide the experience and leadership to achieve that aim," he said.

The new venture will be named Ineos Energy and will bring together the company's various upstream assets in Denmark, Norway and the UK. Since entering the region in 2015, Ineos has built itself up into a significant North Sea player through a series of acquisitions.

In addition to his new position at Ineos, Gilvary also serves as a non-executive director at Barclays and Air Liquide and is a trustee of the Royal Navy Royal Marines Charity. His departure from BP came in the same year as the resignation of CEO Bob Dudley. Dudley's successor, Bernard Looney, has launched an ambitious strategy to scale back the company's oil and gas operations and expand significantly in renewables.