A change of leadership at BP.

Bernard Looney is to replace Bob Dudley as CEO when he retires in February.

The incoming CEO is no stranger to the oil giant.

He took charge of BP's oil and gas production, or "upstream operations" in 2016, just as the sector grappled with the aftermath of the 2014 collapse in oil prices.

The Irishman's energetic management style was quickly felt, as he spearheaded cost cutting and digitalization.

Looney has helped lead BP through some of its fastest growth in oil and gas production - with output rising by around 20% since 2016.

The same period saw the acquisition of BHP's portfolio of U.S. shale assets this year for $10.5 billion - BP's biggest deal in three decades.

As CEO, he will be charged with continuing to adapt BP to the transition to lower carbon energy as pressure from investors to meet climate change targets grows.

Bob Dudley will step down as CEO after the company's full-year results in February.

He was appointed to the top job in 2010 following the Deepwater Horizon disaster in the Gulf of Mexico.

Dudley led the company through near-bankruptcy after it caused the largest oil spill in U.S. history, and through an oil price crash four years later.

Dudley has enjoyed overwhelming support from investors, although a majority of shareholders opposed his 2016 pay package, forcing the company to slash it by 40%.