BP to slash oil asset value by $17.5bn as it predicts faster net zero shift

Michael Holder
clock • 3 min read

Oil and gas giant warns of 'enduring impact' of Covid-19 crisis which it expects will accelerate transition to net zero economy

BP expects to slash the value of its oil assets by as much as $17.5bn in the wake of the coronavirus crisis, as the company today predicted the pandemic is likely to have an "enduring impact" on the global...

To continue reading this article...

Join BusinessGreen

In just a few clicks you can start your free BusinessGreen Lite membership for 12 months, providing you access to:

  • Three complimentary articles per month covering the latest real-time news, analysis, and opinion from Europe’s leading source of information on the Green economy and business
  • Receive important and breaking news stories via our daily news alert
  • Our weekly newsletter with the best of the week’s green business news and analysis

Join now

 

Already a BusinessGreen member?

Login

More on Energy

Future Homes Standard: 'Vast majority' of new build homes to feature rooftop solar panels

Future Homes Standard: 'Vast majority' of new build homes to feature rooftop solar panels

Government confirms an estimated 99 per cent of new build homes in England will require rooftop solar panels, as Lib Dems celebrate 'Sunshine Bill' success

Stuart Stone
clock 06 June 2025 • 6 min read
IEA: Global clean energy investment to hit record $2.2tr in 2025

IEA: Global clean energy investment to hit record $2.2tr in 2025

Global investment in renewables and clean technologies expected to be double that in fossil fuels in 2025, as total global energy investment set to surge to a record $3.3tr, new IEA report predicts

Stuart Stone
clock 05 June 2025 • 6 min read
Why a coordinated UK data centre plan is needed to avert a surge in emissions

Why a coordinated UK data centre plan is needed to avert a surge in emissions

Aurora Energy Research stresses need for coordinated approach between data centres, networks, and generators to manage surge in data centre power demand and avoid a rise in emissions

clock 05 June 2025 • 4 min read