BP reports $4B–$5B in impairments due to underperforming green projects, cuts outlook, and names first female CEO.

BP expects $4 billion to $5 billion in impairments in Q4 2025, primarily from underperforming low-carbon energy projects, amid a strategic shift toward oil and gas. Weak oil trading, lower crude prices—Brent averaged $63.73/barrel—and declining refining margins contributed to reduced earnings. Net debt is projected to drop to $22–23 billion by year-end, down from $26.1 billion, supported by divestments. The company also announced incoming CEO Meg O’Neill, set to take over in April 2026, becoming the first woman to lead a top-five global oil company. BP shares dipped 1% on the news.