London, Feb 3, 2026, 08:45 GMT — Regular session
BP shares inched up 0.3% Tuesday morning, changing hands near 463.5 pence by 0813 GMT. (Fidelity)
The Australasian Centre for Corporate Responsibility has filed a shareholder resolution alongside pension funds, pressing the company to provide more transparency on its reallocation of spending from low-carbon projects to oil and gas. This resolution is set to be voted on at the annual meeting later this spring, just as Meg O’Neill prepares to replace Murray Auchincloss in April, following the company’s strategy overhaul last year. (Reuters)
The filing highlights shareholder returns again, as BP continues its buyback spree. On Monday, the company announced it repurchased 2.86 million shares at a volume-weighted average price near 458 pence under its ongoing programme. Share buybacks serve to return cash to investors and reduce the number of shares outstanding. (Investegate)
A separate filing with the U.S. Securities and Exchange Commission revealed BP had 15.72 billion ordinary shares outstanding, excluding treasury stock, as of Jan. 31. The company also held 766.7 million shares in treasury. According to the filing, treasury shares don’t count toward dividends or shareholder votes. (SEC)
Oil prices weighed on the market. Brent slipped 0.5% to $65.96 a barrel by 0623 GMT. OANDA’s senior market analyst Kelvin Wong noted “volatile price actions” driven by geopolitical tensions. ING analysts also pointed to a stronger dollar as a further drag. Officials indicated Iran and the U.S. plan to resume nuclear talks on Friday in Turkey. (Reuters)
The broader market showed strength, with European shares hitting a record high early Tuesday after a selloff in commodities eased and investors shifted focus to earnings. (Reuters)
There’s a risk for shares if crude prices remain weak heading into earnings season. Analysts caution European oil giants like BP might need to cut buybacks this month amid falling oil prices and a push to shore up balance sheets. That could weigh on their stock support. (Financial Times)
BP’s fourth-quarter and full-year 2025 results are set for Feb. 10, with the report dropping at 7 a.m. Investors will be keen to see updated guidance on capital spending and how quickly buybacks will roll out. Dividend watchers, meanwhile, have Feb. 19 circled as the ordinary-share ex-dividend date, contingent on the company’s announcement in the results. (BP)
