BP Forecasts Up to $5 Billion Hit on Energy Transition Assets

BP expects to book up to $5 billion in impairments for the fourth quarter, mostly related to its energy transition businesses, while oil trading was weak and gas trading averaged at the end of 2025. The fourth-quarter results are expected to include post-tax adjusting items relating to impairments, including impairments within equity-accounted entities, in the range of $4-5 billion, primarily related to the transition businesses, BP said in a trading statement on Wednesday, ahead of the full Q4 results, which will be published on February…