(Jan 14): BP plc said it expects to take as much as US$5 billion (RM20.27 billion) in writedowns for the fourth quarter, just weeks after replacing its CEO as it strives to turn around its fortunes. Oil trading results are “expected to be weak” for a second straight quarter and production will be “flat” while net debt was reduced. Meanwhile, the weak oil trading results and flat production in a lower oil price environment will add more pressure to BP’s ability to maintain its pace of share repurchases. O’Neill will take over in April with some of the groundwork to turn the company around laid out for her. Both Shell and Exxon Mobil Corp have signalled a tougher fourth quarter.

Source: The Edge Markets January 14, 2026 08:01 UTC