BP’s Impairments in Mauritania and Senegal Total $4.5 Billion

BP disclosed $1.495 billion in new impairments for Mauritania and Senegal in its 2024 annual report, raising total impairments to $4.492 billion across four years. This figure represents the largest impairments BP has recorded globally for 2023 and 2024.

BP has reported $1.495 billion in new impairments for its operations in Mauritania and Senegal, as disclosed in its 2024 annual report published on March 6. This figure is in addition to the prior year’s write-off of $1.434 billion and previous impairments of $729 million in 2022 and $834 million in 2021. Consequently, the cumulative impairments over the last four years have reached an astounding total of $4.492 billion, marking these impairments as BP’s largest globally for both 2023 and 2024.

BP’s recent financial disclosures highlight a growing concern regarding significant impairments in its Mauritania and Senegal operations, amounting to nearly $4.5 billion over four years. This trend signals ongoing challenges for the energy giant as it navigates economic pressures and aims to address future risks within these regions.

Original Source: www.mees.com