BP faces growing pressure from shareholders as it prepares to publish full-year results this week. Analysts expect weaker profits after oil prices fell for a third straight year in 2025. Forecasts put profits at about $7.5bn, down from nearly $9bn in 2024, after crude prices dropped below $60 a barrel.
Incoming chief executive Meg O’Neill must outline a clear strategy to end years of instability. Investor groups want BP to explain how it will manage spending as long-term demand for fossil fuels declines. A resolution led by the Australasian Centre for Corporate Responsibility, backed by Nest, calls for tighter control of oil and gas investment. Dutch activists at Follow This want BP to show how it will create value as fossil fuel demand falls.
BP launched seven new oil and gas projects last year after scaling back renewable ambitions. Critics say the move risks long-term financial damage as clean energy grows. While BP shares have recently outperformed European rivals, analysts note that Shell could gain far more value from new discoveries.
The International Energy Agency expects oil demand to start falling around 2030. Activists argue BP must adapt quickly and end what they call years of unclear strategy.
