BP's profit tumbles, debt climbs as coronavirus crisis hammers oil demand [Reuters]
BP p.l.c. (BP)
Last bp p.l.c. earnings: 4/29 04:01 pm
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Source: Reuters
BP's profit tumbles, debt climbs as coronavirus crisis hammers oil demand LONDON (Reuters) - BP’s ( BP.L ) first quarter profits tumbled by two-thirds as the coronavirus crisis hammered oil demand and the energy major’s debt rose sharply as it warned of exceptional uncertainty ahead. London-based BP said it expected significantly lower refining margins in the second quarter when global restrictions on movement to halt the spread of the virus reached their peak, throttling consumption of gasoline, diesel and jet fuel. “It is difficult to predict when current supply and demand imbalances will be resolved and what the ultimate impact of COVID-19 will be,” BP said in a statement. It said oil and gas production faced “significant uncertainties” linked to plunging oil prices and tumbling demand, as well as due to a deal between OPEC, Russia and other producers to cut global supplies of crude by about 10%. BP reported an underlying replacement cost profit, its definition of net income, of
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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