BP Announces Up to $5 Billion in Writedowns on Energy Transition Assets
The British oil giant expects to book up to $5 billion in writedowns on its low-carbon activities. This announcement comes just weeks after a leadership change and a strategic pivot back to hydrocarbons.
| Countries | Australie, Royaume-Uni, États-Unis |
|---|---|
| Sector | Pétrole |
| Theme | Marchés & Finance |
BP Plc has indicated it anticipates writedowns of up to $5 billion on its energy transition portfolio. This disclosure precedes the release of quarterly results and comes amid a strategic reorientation toward fossil fuels. The London-based group also flagged weak oil trading performance and flat production in the fourth quarter, while its net debt decreased.
Comments
Sign in to leave a comment.