Energy Daily

Big Oil Braces for Profit Pain After Crude’s Slide

The supermajors may be heading into a tougher earnings season.

BP said Wednesday it expects to take as much as $5 billion in writedowns from its energy transition business.
Photographer: Leon Neal/AFP/Getty Images

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By Mitchell Ferman

January 14, 2026 at 12:36 PM UTC

This article is for subscribers only.

Welcome to our guide to the commodities driving the global economy. Today, Big Oil reporter Mitchell Ferman looks ahead to a difficult earnings season for the majors.

BP Plc gave investors a tough pill to swallow today: It expects to take as much as $5 billion in writedowns from its energy transition business.