Key facts: BP to incur $4-$5 billion writedown; net debt to drop to $22-$23 billion
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BP expects a $4-$5 billion writedown in Q4, primarily from its energy transition units, with production remaining flat. The company anticipates net debt to decrease to $22-$23 billion by the end of Q4, down from $26.1 billion, supported by $3.5 billion from asset sales. This announcement comes ahead of the new CEO Meg O'Neill's start in April.
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