BP nears $10B divestment goal early, will take multibillion-dollar writedown

London-based BP PLC (NYSE: BP), which has its U.S. headquarters in Houston, on Oct. 11 shared an update on progress the company has made on its $10 billion divestment program.

When BP first announced the program after its $10.25 billion acquisition of BHP assets, the London company planned to complete the divestments over the course of 2019 and 2020.

Now, BP expects to have $10 billion worth of divestments completed or agreed to by the end of 2019, according to an Oct. 11 press release. However,…


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