Business · Energy & Commodities · 3 hrs ago
BP expects £3bn write-down as it shifts away from low-carbon business
BP, the oil major, expects a £3bn hit from its green energy business.
The expected charge concerns its low-carbon business.
It is the second large write-down this year in that part of BP.
The company is pivoting away from low-carbon energy.
The expected write-down comes as BP changes direction.
The information available does not say which investments are affected or give further details about the shift.
BP expects a £3bn write-down linked to its low-carbon business.
The oil major is shifting away from low-carbon business.
This is the second time this year BP has been hit by large write-downs in its low-carbon business.
- Who
- BP, the oil major.
- What
- It expects a £3bn write-down linked to its low-carbon business as it shifts away from that business.
- When
- 2026.
- Where
- Not stated.
- Why
- BP is shifting away from low-carbon business.
This story does not have two clearly opposing sides.
BP was hit by large write-downs in its low-carbon business for the first time this year.
BP expected to take a £3bn hit from its low-carbon business.
- Expected write-down
- £3bn
- Business involved
- Low-carbon business
- Company
- BP
- Context
- Second time this year BP has been hit by large write-downs in its low-carbon business
Sources
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