Overview
- BP said the write-downs will be recorded as post-tax adjusting items primarily in its gas and low‑carbon transition businesses and will appear in its upcoming full‑year results.
- The company reported weak fourth‑quarter oil trading, citing an average Brent price of $63.73 per barrel versus $69.13 in the prior quarter.
- Net debt is expected to fall to $22–$23 billion at year‑end 2025, down from $26.1 billion at the end of September.
- Shares slipped about 1% in morning trading following the update.
- Meg O’Neill has been appointed chief executive starting April 1, with Carol Howle serving as interim leader until she takes the role.