BP faces growing pressure to end a turbulent period as it prepares to publish full-year results. Analysts expect weaker profits after oil prices fell for a third straight year. Forecasts put profits near $7.5bn, down from almost $9bn in 2024.
Falling crude prices hit earnings late in the year, dropping below $60 a barrel. Incoming chief executive Meg O’Neill must outline a clearer long-term strategy. Investors want BP to plan for declining fossil fuel demand.
Shareholder groups, including Follow This, demand limits on future oil and gas spending. Others want BP to explain how it will create value as demand falls.
BP approved seven new oil and gas projects last year after scaling back green investments. Activists argue these projects risk becoming financially unsustainable. The International Energy Agency expects oil demand to decline from about 2030.
Critics say BP’s shifting strategy has lacked clarity. They warn the company must now prove it can adapt to a changing energy market.
