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BP Expects $4-5 Billion Impairments in Q4 Due to Energy Transition Shift

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New Delhi, Jan 14 (IANS) British oil major BP said on Wednesday that it expects to see $4 billion to $5 billion of impairments in the fourth quarter, largely tied to its energy‑transition businesses, as the oil major pivots spending back to oil and gas.The announcement follows a strategic reallocation of capital away from lower‑carbon ventures, under Chair Albert Manifold as BP seeks to simplify its portfolio. Meg O’Neill will take over as chief executive officer in April, replacing interi…