British Petroleum CEO Meg O'Neill said it was a “prudent move” to stop treating the company as a major oil “supergiant.” This is a major shift in investor evaluation criteria as she works to reverse the company's sluggish performance over the years. O'Neill pointed out that BP should no longer try to catch up with larger competitors such as Chevron, ExxonMobil, Shell, and Total Energy, but should focus on competing within its own “heavyweight” and focusing investments on its strongest business. The company has accelerated the pace of asset sales, and recently announced deals include the sale of its UK North Sea business and US biogas producer Archaea Energy.

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