BP reveals £3.7bn hit from botched net zero transition [Yahoo! Finance]
BP p.l.c. (BP)
Last bp p.l.c. earnings: 4/29 04:01 pm
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Source: Yahoo! Finance
The oil and gas giant revealed the impairment in a trading update on Wednesday morning, prompting shares to fall as much as 1pc in early trading. The company told shareholders the losses were “primarily attributable to the gas and low carbon energy segment”. The update comes as BP is ditching its expensive bet on net zero following a backlash from shareholders Bernard Looney, the former chief executive, set out plans in 2020 to slash the company's oil output by 40pc and reach net zero carbon emissions by 2050 in a break from the rest of the industry. However, the pivot to green energy proved disastrous, with BP's share price underperforming rivals. The company has been incrementally gutting Mr Looney's strategy since he left in 2023. BP has halted plans for biofuel refineries planned in Rotterdam, in the Netherlands, and Lingen, in north-west Germany. It has also sold off 10 US onshore windfarms, frozen offshore wind investments and announced plans to sell most of its stake
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BP
News
- BP flags up to $5 billion in low-carbon energy impairments [BNN Bloomberg (Canada)]BNN Bloomberg
- How activist investors plan to take on Big Oil at the 2026 AGM season [CNBC]CNBC
- BP Flags Up to $5 Billion of Energy Transition Writedowns [Yahoo! Finance Canada]Yahoo! Finance Canada
- BP Flags Up to $5 Billion of Energy Transition Writedowns [Yahoo! Finance]Yahoo! Finance
- Hilcorp chairman: We're going to Venezuela [Yahoo! Finance]Yahoo! Finance
BP
Earnings
- 11/5/25 - Beat
BP
Sec Filings
- 1/14/26 - Form 6-K
- 1/13/26 - Form 6-K
- 1/2/26 - Form 6-K
- BP's page on the SEC website