BP faces mounting pressure from shareholders as it prepares to publish full-year results expected to show weaker profits. Analysts forecast earnings of about $7.5bn, down from nearly $9bn last year, after oil prices fell for a third straight year. Crude prices dropped below $60 a barrel late in 2025, hitting fourth-quarter results.
Incoming chief executive Meg O’Neill will face calls to outline a clear long-term strategy. Investor groups want BP to explain how it will manage spending on oil and gas as demand declines. Activists from Follow This and the Australasian Centre for Corporate Responsibility have filed resolutions demanding greater clarity.
BP recently refocused on fossil fuels, launching seven new oil and gas projects last year. While some analysts see momentum, others warn of long-term risk. Citi noted BP’s recent share price gains but highlighted rivals such as Shell making major exploration advances.
Campaigners argue BP’s strategy lacks direction as electric vehicles and clean energy reduce oil demand. International Energy Agency expects global oil demand to start falling around 2030. Activists say BP must now prove it can deliver value in a future with shrinking fossil fuel markets.
