BP to slash value of assets by up to $17.5bn

FINANCIAL TIMES đź”’| BP said it will write off up to $17.5bn from the value of its assets as the UK oil major revises longer-term energy price assumptions with the expectation of a quicker shift away from fossil fuels.

BP said coronavirus will have a lasting impact on the global economy as well as oil and gas demand and sees the pandemic only accelerating a global shift towards cleaner forms of energy.

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