BP’s annual report reveals $1.495 billion in new impairments for Mauritania and Senegal, following previous write-offs totaling $4.492 billion over four years. These impairments ranked as BP’s largest globally in 2023 and 2024, reflecting ongoing financial challenges.
BP’s 2024 annual report, released on March 6, highlights significant financial setbacks in its Mauritania and Senegal operations, revealing new impairments of $1.495 billion. This figure adds to a previous write-off of $1.434 billion in 2023, $729 million in 2022, and $834 million in 2021. Cumulatively, these impairments amount to an alarming total of $4.492 billion over the past four years, making them the largest impairments globally for BP in both 2023 and 2024.
In conclusion, BP has faced substantial impairments within its Mauritania and Senegal divisions, totaling nearly $4.5 billion over four years. The 2024 report underscores the severity of financial challenges the company is experiencing in these regions, marking a significant concern for potential investors and stakeholders.
Original Source: www.mees.com
