Friday, January 30, 2026 at 11:30 AM
Shares of both companies have risen over the past year, despite U.S. oil prices ending 2025 down 20% a barrel.
A shareholder resolution filed by U.K. and European pension funds, along with activist investor Australasian Centre for Corporate Responsibility, said the reset strategy and renewed focus on oil and gas doesn’t address the root cause of BP’s underperformance.
ConocoPhillips’ fourth-quarter earnings fell, hurt by lower prices that were slightly offset by higher production.
Oil prices retreated following a three-day rally but remained on track for significant weekly gains as the possibility of U.S. military action against Iran keeps markets on edge.
Adjusted earnings fell to $3.26 billion from $5.43 billion in the preceding quarter.
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