BP faces fresh shareholder pressure as it prepares to publish full-year results this week. Analysts expect weaker profits after a third year of falling oil prices. Forecasts suggest earnings of about $7.5bn, down from nearly $9bn in 2024. A drop in crude prices below $60 a barrel hurt fourth-quarter performance.
Incoming chief executive Meg O’Neill will face calls to present a clearer long-term strategy. Investors want reassurance after BP’s recent shift back toward oil and gas. Activist groups including Follow This want BP to explain how it will manage declining fossil fuel demand. A separate resolution, backed by pension investors, urges tighter control of oil and gas spending.
BP launched seven new fossil fuel projects last year, most delivered early. The company argues this helped stabilise performance. Analysts at Citi say BP’s shares have recently outperformed European rivals. They contrast this with exploration gains at Shell.
Campaigners remain unconvinced and warn new projects may become unprofitable. They cite forecasts from the International Energy Agency showing oil demand falling from 2030. Activists argue BP’s strategy has lacked clarity and consistency in recent years.
