Oil major BP expects to book $4 billion to $5 billion in fourth-quarter impairments, mainly tied to its low-carbon energy ...

The company had been a leader among the oil majors in shifting business away from fossil fuels and toward renewables.

Oil major BP expects to book $4 billion to $5 billion in fourth-quarter impairments, mainly tied to its energy transition ...

BP’s turnaround efforts helped shares to almost tie with Shell PLC as best performer among the top five oil majors last year ...

The update comes as BP is ditching its expensive bet on net zero following a backlash from shareholders. Bernard Looney, the ...

BP isn’t even waiting for its new CEO to start before taking a big charge over its push into renewable energy.

BP has acknowledged for the first time that its struggling green energy businesses are worth far less than previously thought ...

BP rises despite saying it expects weaker oil trading and falling prices to weigh on Q4 earnings, while expecting net debt to ...

BP expects $4-5 billion in Q4 impairments primarily in its energy transition businesses, reports weak oil trading, and sees a ...

Climate activist shareholder group Follow This and more than 20 other investors have filed resolutions calling on BP and ...

The oil giant said that the charges 'are primarily attributable to the gas and low carbon energy segment' of the business.

The charge, along with a warning of lower returns from oil trading, shows the challenges awaiting incoming CEO Meg O’Neill.