0833 GMT - BP could be laying the groundwork for more asset sales with its latest write-downs of about $1 billion in its transition businesses, RBC Capital Markets' Biraj Borkhataria and Adnan Dhanani say. The U.K. energy major disclosed the charges in an update that otherwise showed a strong performance in the second quarter, the analysts say in a research note. "Call it pre-divestment window dressing...better to take the hit now than show explicit value destruction at the point of sale," the analysts say. "We believe both LightsourceBP and Archaea could face the chopping block--although not formally announced by the company as far--and see no place for either in BP's portfolio long term." BP shares rise 3.2%. (adria.calatayud@wsj.com)

(END) Dow Jones Newswires

July 14, 2026 04:33 ET (08:33 GMT)

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