BP Takes $17.5 Billion Write-Down, Expects Oil Price to Stay Low

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BP is writing down up to $17.5 billion of its assets and might leave some oil and gas in the ground because of lower prices

LONDON—BP PLC is writing down up to $17.5 billion of its assets and might leave some of its oil and gas in the ground because of lower energy prices and weakened demand amid the global crisis caused by the novel coronavirus.

The British energy giant sees the pandemic—which caused nationwide shutdowns and drove U.S. oil prices into negative territory—having a lasting economic impact, leading to fragile energy demand and sinking prices. The virus will also accelerate the world’s shift to a lower carbon economy, BP said, with...

 

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Oh no, not the big, trillion dollar oil companies!! How will their CEO afford to buy another mega yacht this quarter And the shareholders Nooooo

What a f’d up coming. They are a disaster

Oil will stay low until demand rises again, hopefully worldwide economies will crank up soon and the world will be back to normalcy

Good. We need to end fossil fuels to save the climate.

امیر قربانی: «How I converted to islam?» را در YouTube تماشا کنید «This world has a Master who has been witnessing crimes and oppression of tyrants against the innoc» را در YouTube تماشا کنید

The dominos fall from the top

realDonaldTrump

.

This is the move.

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