BP to take up to US$17.5 billion hit on coronavirus
BP has also cut its long-term oil price forecast after the deadly virus outbreak slammed the brakes on the global economy and hurt oil prices this year. – EPA pic, June 15, 2020.
BRITISH energy giant BP said today it will take a hit of up to US$17.5 billion in the second quarter as “sustained” coronavirus fallout ravages global oil demand. The company, fresh from outlining plans to axe almost 10,000 jobs on the virus fallout, said in a statement it will suffer a negative impact of between US$13 billion and US$17.5 billion in non-cash impairments and write-offs.
Effective July 2018, access to full reports will only be available with a subscription. Sign-up now and enjoy one week free access!
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BP to write off up to US$17.5 bil after coronavirus ravages oil demandThe oil major had announced plans 1 week ago to axe almost 15% of its global workforce. FMTNews BP Covid19
Read more »
BP to write off up to US$17.5 bil after coronavirus ravages oil demandThe oil major had announced plans 1 week ago to axe almost 15% of its global workforce. FMTNews BP Covid19
Read more »
Former Pakistan cricket captain contracts coronavirus | The Malaysian InsightAll-rounder tweets about illness after doing charity work to feed those in remote areas.
Read more »
Gov't doesn't conduct house-to-house test, Ismail says after scam scareCORONAVIRUS | The exception is areas placed under enhanced MCO, adds defence minister.
Read more »
Returning citizens advised to undergo swab tests before departureCORONAVIRUS | This is to prevent a long waiting time for test results at the country’s entryways.
Read more »