Oil giant BP plunges into $16.8-bn quarterly loss

Energy Daily Wednesday, 5 August 2020 ()
Oil giant BP plunges into $16.8-bn quarterly lossLondon (AFP) Aug 4, 2020

BP plunged into a quarterly net loss of almost $16.85 billion as the coronavirus pandemic ravaged oil demand and prices, triggering huge asset writedowns, the British energy giant announced Tuesday. The company responded by cutting its dividend for the first time since the Deepwater Horizon oil rig disaster in 2010 that damaged BP's finances and reputation. "The ongoing severe impacts of
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News video: BP Racks Up Record Losses, But Investors See Green

BP Racks Up Record Losses, But Investors See Green 02:32

 BP posts a record quarterly loss and writes down billions amid the coronavirus pandemic and oil-price plunge, but pleases investors with its green transition plans.