{"id":12193,"date":"2026-01-14T09:00:04","date_gmt":"2026-01-14T09:00:04","guid":{"rendered":"https:\/\/microvibenews.com\/?p=12193"},"modified":"2026-01-14T09:00:04","modified_gmt":"2026-01-14T09:00:04","slug":"bp-flags-up-to-5bn-in-writedowns-for-fourth-quarter","status":"publish","type":"post","link":"https:\/\/microvibenews.com\/?p=12193","title":{"rendered":"BP flags up to $5bn in writedowns for fourth quarter"},"content":{"rendered":"<p><\/p>\n<div id=\"textFreeArticle\">\n<p>BP Plc said it expects to take as much as $5 billion in writedowns for the fourth quarter, largely related to its transition businesses.<\/p>\n<p>The oil giant foresees impairment charges mostly related to its gas and low carbon businesses, while oil trading results for the year\u2019s final three months are \u201cexpected to be weak\u201d for a second straight quarter, BP said in a statement on Wednesday, ahead of an earnings report next month. Production will be flat, while it managed to reduce net debt.<\/p>\n<p>The report offers the first insight into how BP navigated a slump in oil prices in the last quarter of a tumultuous year, just weeks after the shock ouster of Murray Auchincloss from the helm. Auchincloss had set in motion a push to focus the business on fossil fuels after years of failed low-carbon bets, but new Chairman Albert Manifold said changes weren\u2019t happening fast enough.<\/p>\n<div class=\"visible-sm-block visible-xs-block m1010\">\n<div class=\"ad-container-wrapper\">\n<p>ADVERTISEMENT<\/p>\n<p>CONTINUE READING BELOW<\/p>\n<\/div>\n<\/div>\n<p>Last month, Manifold named Woodside Energy Group Chief Executive Officer Meg O\u2019Neil, who has led the Australian producer with a clear focus on oil and gas, to replace Auchincloss. The shares are up about 4% since the announcement.<\/p>\n<p>\u00a9 2026 Bloomberg<\/p>\n<p><em>Follow Moneyweb\u2019s in-depth finance and business news on WhatsApp here.<\/em><\/p>\n<\/p><\/div>\n<p><script data-cfasync=\"false\">\n            !function(f,b,e,v,n,t,s)\n            {if(f.fbq)return;n=f.fbq=function(){n.callMethod?\n                n.callMethod.apply(n,arguments):n.queue.push(arguments)};\n                if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0';\n                n.queue=[];t=b.createElement(e);t.async=!0;\n                t.src=v;s=b.getElementsByTagName(e)[0];\n                s.parentNode.insertBefore(t,s)}(window, document,'script',\n                'https:\/\/connect.facebook.net\/en_US\/fbevents.js');\n            fbq('init', '779812924991616');\n            fbq('track', 'PageView');\n        <\/script>#flags #5bn #writedowns #fourth #quarter<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BP Plc said it expects to take&hellip; <\/p>\n","protected":false},"author":1,"featured_media":12194,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[8732,3665,2748,1987,8733],"_links":{"self":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/posts\/12193"}],"collection":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12193"}],"version-history":[{"count":0,"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/posts\/12193\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/media\/12194"}],"wp:attachment":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}