BP faces growing calls to end years of strategic turbulence as it prepares to publish full-year results. Analysts expect weaker profits after oil prices fell for a third straight year in 2025. Forecasts put annual profits near $7.5bn, down from almost $9bn in 2024. Fourth-quarter earnings likely slumped after crude prices dropped below $60 a barrel.
Incoming chief executive Meg O’Neill will face pressure to outline a clearer long-term strategy. Activist investors want BP to prepare for declining fossil fuel demand. A shareholder resolution led by the Australasian Centre for Corporate Responsibility urges tighter control of oil and gas spending. Dutch group Follow This also wants clarity on value creation as demand falls.
BP restarted its focus on fossil fuels last year, launching seven new oil and gas projects. Activists argue these investments risk becoming unsustainable as clean energy grows. Follow This says BP’s shifting strategy lacks clarity and credibility. The International Energy Agency expects oil demand to decline from about 2030, intensifying pressure on the company’s direction.
