BP to take hit of up to $5bn on green energy as it refocuses on fossil fuels
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BP is set to write down the value of its green energy business by up to $5 billion as it shifts its focus back to fossil fuels. The decision comes amid pressures from poor oil trading performance and declining oil prices. Despite the significant writedown, BP asserts that it will not impact its underlying profits when it releases its full-year results in February.
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📚Bağlam ve Tarihsel Perspektif
BP's decision to refocus on fossil fuels under new leadership signifies a broader trend among energy companies as they navigate the complexities of energy transition while facing economic pressures. The oil market's volatility is prompting some firms to reassess their investments in renewable energy, potentially slowing the progress towards a more sustainable energy future.
This article reflects the opinions and analysis of The Guardian and does not necessarily represent the views of all stakeholders in the energy sector.
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