Reuters logo
BRIEF-BP expects $750 million non-cash exploration write-off in Angola
June 29, 2017 / 2:17 PM / 5 months ago

BRIEF-BP expects $750 million non-cash exploration write-off in Angola

June 29 (Reuters) - BP Plc:

* Actively managing exploration portfolio and exiting non-competitive assets, expects around $750 million non-cash exploration write-off in Angola

* Decided to relinquish its 50 pct interest in block 24/11 offshore southern Angola

* Katambi, a gas discovery made in block in 2014, has not been determined to be commercial

* Due to write-offs in Angola, bp expects a non-cash exploration write-off in Angola of around $750 million, which will not attract tax relief in its Q2 2017 results Source text for Eikon: [on.bp.com/2tpz2rW] Further company coverage: (Bengaluru Newsroom)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below