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 consecutive year. Forecasts suggest profits of about $7.5bn, down from nearly $9bn in 2024. Falling crude prices are expected to hurt fourth-quarter earnings.
Incoming chief executive Meg O’Neill will face pressure to outline a clear long-term strategy. Investor groups want BP to prepare for declining fossil fuel demand. Activists at Follow This and others demand limits on future oil and gas spending. They argue new fossil fuel projects risk becoming financially unsustainable.
BP recently shifted back toward oil and gas, launching seven new projects last year. The company hopes this focus will stabilise performance. Analysts at Citi say BP’s share price has recently outperformed European rivals. However, campaigners warn unclear strategy has damaged confidence.
The International Energy Agency expects global oil demand to decline from around 2030. Activists say BP must now prove it can adapt to that future.
