BP hikes debt, keeps dividend as coronavirus hammers profits [Reuters]
BP p.l.c. (BP)
Last bp p.l.c. earnings: 4/29 04:01 pm
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Source: Reuters
BP hikes debt, keeps dividend as coronavirus hammers profits LONDON (Reuters) - BP’s ( BP.L ) first-quarter profit tumbled by two thirds and its debt climbed to its highest in at least five years as the coronavirus crisis hammered oil demand, but the energy major kept its dividend despite warning of exceptional uncertainty. 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. “I can see many reasons why this recovery will take longer and therefore I think we’re in this for quite some time,” Chief Executive Bernard Looney, who took over in February, told Reuters. The company said oil and gas production faced “significant uncertainties” linked to tumbling oil demand and plunging prices, as well as due to a deal between OPEC, Russia and other producers to cut global supplies of crude by about 10%. BP rep
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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