{"id":357700,"date":"2020-06-16T11:11:23","date_gmt":"2020-06-16T05:41:23","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=357700"},"modified":"2020-06-16T12:00:07","modified_gmt":"2020-06-16T06:30:07","slug":"bp-to-write-off-up-to-17-5-billion-after-reduced-oil-price-forecast","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/bp-to-write-off-up-to-17-5-billion-after-reduced-oil-price-forecast\/","title":{"rendered":"BP to write off up to $17.5 billion after reduced oil price forecast"},"content":{"rendered":"<p>BP will take a writedown of up to $17.5 billion in its second-quarter earnings after sharply lowering its long-term oil and gas price outlook as it now expects a faster transition away from fossil fuels. <\/p>\n<p>The earnings are due on Aug 4 and CEO Bernard Looney in September is set to announce his strategy to &#8220;reinvent&#8221; BP including a smaller focus on oil and gas and a larger renewables business. <\/p>\n<p>In a statement, BP said that the aftermath of the new coronavirus pandemic would accelerate the transition to a lower-carbon economy in line with the goals of the 2015 Paris climate agreement. <\/p>\n<p>&#8220;We have reset our price outlook to reflect that impact and the likelihood of greater efforts to &#8216;build back better&#8217; towards a Paris-consistent world,&#8221; Looney said in a statement.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BP will take a writedown of up to $17.5 billion in its second-quarter earnings after sharply lowering its long-term oil and gas price outlook as it now expects a faster transition away from fossil fuels. The earnings are due on Aug 4 and CEO Bernard Looney in September is set to announce his strategy to &#8220;reinvent&#8221; BP including a smaller focus on oil and gas and a larger renewables business. In a statement, BP said that the aftermath of the new coronavirus pandemic would accelerate the transition to a lower-carbon economy in line with the goals of the 2015 Paris [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[146,130,177],"tags":[],"class_list":["post-357700","post","type-post","status-publish","format-standard","hentry","category-deccan-herald-newspapers","category-newspapers","category-oil-gas-deccan-herald-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/357700","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=357700"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/357700\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=357700"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=357700"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=357700"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}