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

Voltalis and Powervault launch 'UK first' battery flexibility pilot across 300 UK homes

Voltalis and Powervault launch 'UK first' battery flexibility pilot across 300 UK homes

Partners claim demand side response project could unlock new revenue streams and the possibility of zero electricity bills for UK homeowners

Stuart Stone
clock 12 September 2025 • 3 min read
 IEA downgrades low carbon hydrogen production forecasts

IEA downgrades low carbon hydrogen production forecasts

Sector has been struck by wave of project cancellations, but agency claims 'robust expansion' by 2030 is still possible

clock 12 September 2025 • 3 min read
Record sunshine powers Britain's grid to cleanest three months on record

Record sunshine powers Britain's grid to cleanest three months on record

Analysis from Imperial College London and Drax suggests government's 2030 clean power mission could be within reach, as Britain's grid decarbonisation continues apace

Michael Holder
clock 11 September 2025 • 3 min read