BP faces mounting pressure to end a turbulent period as it prepares to publish full-year results this week. Analysts expect weaker profits after oil prices fell for a third straight year, with forecasts of about $7.5bn, down from nearly $9bn in 2024. The decline follows a sharp drop in crude prices late last year.
Incoming chief executive Meg O’Neill is expected to outline a clearer strategy as investors question BP’s recent shift back toward fossil fuels. Activist shareholders, including groups linked to pension funds, want the company to explain how it will manage future oil and gas spending as long-term demand declines. The campaign group Follow This has filed a resolution urging BP to show how it will create value in a world using less fossil fuel.
BP approved seven new oil and gas projects last year, reversing its earlier push into renewables. Supporters say the move has helped the share price outperform European rivals, though critics argue the strategy lacks direction and risks future losses as clean energy grows. The International Energy Agency expects oil demand to fall from around 2030.
Investors will closely watch whether BP can present a stable, credible plan that balances short-term returns with long-term energy transition risks.
