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BP warns of up to $5 billion of energy transition writedowns

BP Plc anticipates up to $5 billion in writedowns from its energy transition business following a leadership change and a pivot back to fossil fuels. The energy giant also reported weak oil trading and flat production for the fourth quarter, while successfully reducing net debt. This update comes after the ouster of its CEO amid pressure over low-carbon investments.

14 Jan 2026 11:51 pm