Cobalt catalysts, although already used industrially for Fischer-Tropsch synthesis, are prone to a number of deactivation mechanisms such as oxidation of the active phase, and the deposition of carbon and reaction products. We have performed near-ambient-pressure X-ray photoelectron spectroscopy on Co(0001) model catalysts during exposure to gases relevant to Fischer-Tropsch synthesis, i.e., CO and H2, at 0.25 mbar total pressure. At this pressure, CO seems to be more efficient at keeping the Co(0001) surface metallic than H2, which is the opposite behavior as reported in the literature for other pressure ranges. We offer an interpretation of these differences based on the preferred adsorption and dissociation sites of CO and H2 compared to the oxidizing agent water (present as impurity in the gas feed and one of the products of the reaction). Additionally, detailed carbon spectra measured at the HIPPIE beamline of MAX IV allow for the distinction of different adsorbed species: CO and COx species are present in correlation to the presence of oxygen on the surface. Carbidic carbon and graphitic carbon can both be removed by hydrogen, whereas adsorbed hydrocarbons possibly poison the surface.