BP Bolsters Financial Reserves as Pandemic Slashes Profit [Yahoo! Finance News]
BP p.l.c. (BP)
Last bp p.l.c. earnings: 4/29 04:01 pm
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Source: Yahoo! Finance News
) -- BP Plc bolstered its financial reserves as the initial stages of the coronavirus pandemic caused its profit to plunge and increased its debt.While earnings were hit hard in the first three months of the year, the worst of the virus-driven crisis is yet to come. The company expects the pandemic to reduce its production and have a material impact on refining in the second quarter.A measure of its indebtedness rose to the highest in more than eight years, underscoring the financial strain resulting from the oil-market collapse. To boost its financial reserves, BP has taken on a new $10 billion credit facility and also sold $7 billion of bonds.“Our industry has been hit by supply and demand shocks on a scale never seen before,” Chief Executive Officer Bernard Looney, who took the company’s helm earlier this year, said in a statement on Tuesday. “We are focusing our efforts on protecting our people, supporting our communities and strengthening our finance.”The earnings figures offer a
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BP
Earnings
- 11/5/25 - Beat
BP
Sec Filings
- 12/1/25 - Form 6-K
- 12/1/25 - Form 6-K
- 11/6/25 - Form 13F-HR
- BP's page on the SEC website