BP hikes debt, keeps dividend as coronavirus hammers profits [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
FILE PHOTO: BP logo at a petrol station in LondonBy Ron Bousso and Shadia NasrallaLONDON Reuters) - BP's 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.BP shares were down 2% at 0750 GMT, as analysts questioned whether sticking with the dividend and hiking debt was a prudent strategy. The broader European energy index fell 0.9%."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
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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