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BP Anticipates $5 Billion Q4 Impairments, Shifts Focus to Oil

1/14/2026

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Summary

Story summary

BP plc expects $4 billion to $5 billion in impairments in Q4, mainly in energy transition units.
The company shifts from lower-carbon projects to oil and gas to boost profitability, as Meg O'Neill becomes CEO in April.
BP expects flat oil and gas output from the prior quarter and lower earnings due to weaker product prices.
Brent crude averaged $63.73 per barrel in Q4, down from $69.13.

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Story summary

BP plc expects $4 billion to $5 billion in impairments in Q4, mainly in energy transition units.
The company shifts from lower-carbon projects to oil and gas to boost profitability, as Meg O'Neill becomes CEO in April.
BP expects flat oil and gas output from the prior quarter and lower earnings due to weaker product prices.
Brent crude averaged $63.73 per barrel in Q4, down from $69.13.