Oil giant BP swings to a $17 billion loss and slashes its dividend for the first time in a decade as coronavirus turns the energy sector upside down
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ReutersOil giant BP swung to a huge loss in the second quarter as it reported the continued effects of the coronavirus pandemic.The London-based energy giant showed a loss of $16.8 billion in the second quarter of 2020, in sharp contrast to a profit of $1.8 billion a year ago.In adjusted terms, the company posted a net loss of $6.7 billion, compared to net profits of $2.8 billion last year.
As said here by Shalini Nagarajan