BP faces growing pressure from shareholders as it prepares to publish its full-year results this week. Analysts expect weaker profits after oil prices fell for a third straight year in 2025. City forecasts suggest profits of about $7.5bn, down from nearly $9bn in 2024, after a sharp drop in fourth-quarter earnings.
Incoming chief executive Meg O’Neill is expected to outline a clearer strategy from April. Investors want assurance that BP can navigate long-term declines in fossil fuel demand. Shareholder groups including Follow This and the Australasian Centre for Corporate Responsibility have filed resolutions calling for tighter controls on oil and gas spending.
BP approved seven new oil and gas projects last year as it shifted back toward fossil fuels. Activists argue this approach risks long-term value as clean energy grows. The International Energy Agency expects global oil demand to fall from around 2030. Critics say BP’s recent strategy lacked clarity and now needs a decisive reset.
