BP to take hit of up to $5bn on green energy as it refocuses on fossil fuels

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BP has said it expects to write down the value of its struggling green energy business by as much as $5bn (£3.7bn), as it refocuses on fossil fuels under its new chair, Albert Manifold.The oil company said the writedowns were mostly related to its gas and low-carbon energy divisions in its “transition businesses”, but added that wiping between $4bn and $5bn off their value would not affect its underlying profits when it reports its full-year results in February.The company has been trying to sell a stake in its solar business, Lightsource, and cancelled hydrogen projects in the UK, Oman and Australia.BP’s shares fell by as much as 1.

4% on Wednesday morning, before recouping some of their losses, as the company also said oil trading had been weaker during its final quarter of the year,It comes only days after its FTSE 100 rival Shell warned of a weaker performance from trading, amid a drop in the oil price,BP said the average price of Brent crude was $63,73 a barrel in the fourth quarter of last year, compared with $69,13 a barrel in the prior quarter.

Oil prices last year recorded their steepest annual fall since the Covid pandemic, slumping by almost 20% in 2025, while further declines are expected as producers continue to pump more crude than is required by the global economy.In recent weeks, prices have come under further pressure after Donald Trump’s capture of Venezuela’s then leader, Nicolás Maduro, and his claim that US oil companies stand poised to rebuild the South American country’s oil industry, adding to fears of a glut.However, oil prices rose on Wednesday on fears of Iranian supply disruptions because of a potential US attack and possible retaliation.Brent futures rose 1.4% to $66.

39,In an update before its full-year results, BP said it continued to slash its debts, reducing net debt to between $22bn and $23bn at the end of the quarter, compared with $26bn at the end of the previous three months,The writedown comes after the oil company’s surprise announcement last month that it had appointed Meg O’Neill as its third chief executive in five years,The first female head of a leading oil company, O’Neill will join BP in April from the Australian oil and gas company Woodside,O’Neill replaces Murray Auchincloss, who ran the company for less than two years, as BP hopes to revive its fortunes.

Under Auchincloss, the group pushed further away from the green ambitions of his predecessor Bernard Looney – who was dismissed in 2023 – in favour of ramping up fossil fuel production.“Put the writedowns together with a weak showing for its oil trading arm and the impact from weaker oil prices, [it] looks like the final set of quarterly results before Meg O’Neill steps into the hot seat in April will be downbeat,” said Dan Coatsworth, the head of markets at the broker AJ Bell.“From O’Neill’s perspective this is no bad thing as it gives her a low base from which to build.However, it does illustrate the scale of the challenge in front of her.”BP’s trading update came as Shell and Exxon Mobil announced they had pulled the plug on a planned sale of natural gas assets in the North Sea to the British oil producer Viaro Energy.

Shell said in a statement that commercial and market conditions had changed since the deal was struck in July 2024, while it added that conditions needed to complete the sale were not met.Shell will continue to operate the assets, which include 11 gas fields and one exploration prospect in the southern North Sea, as well as an onshore terminal at Bacton on the Norfolk coast.
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Circumcision kits found on sale on Amazon UK as concerns grow over harm to baby boys

Circumcision kits have been found on sale on Amazon UK, highlighting lax regulation as concerns grow about deaths and serious harm to baby boys.In December, a UK coroner issued warnings about insufficient circumcision regulation after the death in 2023 of a six-month-old boy, Mohamed Abdisamad, from a streptococcus infection.In a prevention of future deaths report, Dr Anton van Dellen, assistant coroner for west London, highlighted how “any individual may conduct a non-therapeutic male circumcision (NTMC) without any prior training”, with “no requirement for any infection control measures [and] no requirements for any aftercare”, adding that “action should be taken to prevent future deaths”.The Department of Health and Social Care has until the end of February to respond.The Guardian found “Plastibell” kits, in various sizes, on sale for £200 on Amazon in January

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One in four UK teenagers in care have attempted to end their lives, study says

One in four teenagers in care have attempted to end their own life, and are four times more likely to do so than their peers with no care experience, according to a landmark study.The research analysed data from the millennium cohort study, which follows the lives of 19,000 people born in the UK between 2000 and 2002, and considered how out of home care, including foster, residential and kinship care, affected the social and mental health outcomes of the participants.More than one in four (26%) 17-year-olds who have lived in foster or residential care have attempted to end their own lives, the analysis found, compared with only one in 14 (7%) of teenagers with no experience of being in care.Although previous research has found that about 7% of UK children have attempted suicide by the age of 17, this study, conducted by academics from the UCL Centre for Longitudinal Studies and funded by the Nuffield Foundation, is the first to calculate the elevated suicide risk teenagers with care experience have.Lisa Harker, the director of the Nuffield Family Justice Observatory, said the fact that one in four care-experienced children had attempted suicide was a “national emergency”

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Five minutes more exercise and 30 minutes less sitting could help millions live longer

Just five extra minutes of exercise and half an hour less sitting time each day could help millions of people live longer, according to research highlighting the potentially huge population benefits of making even tiny lifestyle changes.Until now, evidence about reducing the number of premature deaths assumed that everyone must meet specific targets, overlooking the positives of even minor increases in physical activity.Moderate-intensity physical activity such as brisk walking for an extra five minutes a day was associated with an estimated 10% reduction in deaths, the study of 135,000 people from the UK, US, Norway and Sweden found.Researchers led by the Norwegian School of Sport Sciences also found reducing sedentary time by 30 minutes a day was associated with an estimated 7% reduction in all deaths.The greatest benefit was seen if the least active 20% of the population increased their activity by five minutes each day

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NHS spending up to £19k a time treating people suffering after overseas surgery, research finds

The NHS is spending up to almost £20,000 a time treating people who have suffered serious setbacks after having medical procedures abroad, research has found.Hospitals are having to “pick up the pieces” when things go wrong for the growing number of Britons going overseas for weight loss surgery, breast enlargements or other operations.As many as 53% of those who do end up with complications such as infections, organ failure and wounds that do not heal, according to a study published in the journal BMJ Open.Some people need a stay in intensive care, further surgery and large amounts of antibiotics in order to recover from botched treatment they have paid for in another country, researchers found.Patients have ended up in a UK hospital for as long as 45 days as a result of complications that arose after an operation to lose weight and even longer – 49 days – after cosmetic surgery

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LGB+ people in England and Wales ‘much’ more likely to die by suicide than straight people

LGB+ people are much more likely to die by taking their own lives, drug overdoses and alcohol-related disease than their straight counterparts, the first official figures of their kind show.The 2021 census in England and Wales asked people aged 16 and above about their sexual orientation for the first time. The Office for National Statistics (ONS) has now analysed differences in causes of mortality from March 2021 to November 2024. The ONS research uses the acronym LGB+ rather than LGBTQ+.It found that people who identified as gay, lesbian, bisexual or “other” sexual orientation had 1

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Football fan took his own life after using illegal ‘predatory’ betting sites, inquest told

A football fan took his own life after his love of the sport fuelled a gambling addiction that led him to bet with illegal offshore operators that “prey on” vulnerable people, a coroner has heard.Ollie Long, from Wendover in Buckinghamshire, died in February 2024, aged 36, after struggling with his addiction for eight years.In statements read by Long’s sister, Chloe, East Sussex coroner’s court in Lewes heard the “endlessly kind” Liverpool FC fan had started gambling through his passion for football and won £15,000 through a sign-up offer.She said the gambling websites he went on to use were “highly addictive, predatory systems designed to exploit”.The court heard the sites included illegal offshore operators that target UK consumers who have signed up with the the country’s self-exclusion scheme, GamStop, promoting themselves online as “Not on GamStop”