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IS - BP anticipating massive Q2 impairment after pricing review - June 2020
BP is anticipating estimated aggregate post-tax impairment charges and writeoffs of $13-17.5 billion in Q2. Non-cash, pre-tax impairment charges against property, plants and equipment are expected to range $8-11 billion and write-offs of intangible explorations assets are expected to range $8-10 billion. The warning came after BP reviewed its portfolio and capital development plans in light of the coronavirus pandemic. As part of its long-term planning, the British supermajor is also reviewing its intent......
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