BP faces shareholder pressure as it prepares to publish full-year results this week. Analysts expect weaker profits after oil prices fell for a third year in 2025. Forecasts put profits near $7.5bn, down from almost $9bn in 2024. Fourth-quarter earnings likely suffered after crude prices dropped below $60 a barrel.
Incoming chief executive Meg O’Neill faces calls to outline a clearer long-term strategy. Activist investors want BP to prepare for declining fossil fuel demand. A group led by Australasian Centre for Corporate Responsibility has filed a resolution urging tighter control of oil and gas spending. Dutch campaigners at Follow This also want BP to explain how it will create value as demand falls.
BP approved seven new oil and gas projects last year after refocusing on fossil fuels. Analysts at Citi said BP’s share price has recently outperformed European rivals. However, they noted stronger growth prospects at Shell following exploration success in Brazil.
Campaigners argue new fossil fuel projects risk becoming uneconomic as clean energy expands. The International Energy Agency expects oil demand to fall from about 2030. Activists say BP must end strategic uncertainty and adapt to long-term market decline.
