BP expects to substantially complete its $10 billion asset divestment plan by the end of this year — about one year early — but the UK supermajor has also warned investors of impairments of up to $3 billion from the sales.
The London-based giant is also staring at a much-increased effective tax rate in the third quarter as a result of a large drop in production in the period, in part due to Hurricane Barry in the US Gulf of Mexico.
