BP actions will lead to non-cash impairment charges and write-offs in the second quarter, estimated to be in an aggregate range of $13 billion to $17.5 billion post-tax.

BP will begin a process of cutting 10,000 jobs following the end of a three-month redundancy freeze that started in March.

BP p.l.c. Group results First quarter 2020

The original agreement provided for Hilcorp to pay $4.0 billion near-term and $1.6 billion through an earnout thereafter.

BP profit was $19 million for the fourth quarter and $4.0 billion for the full year.

BP and Reliance Industries Limited (RIL) signed a definitive agreement relating to the formation of their new Indian fuels and mobility joint venture. This follows the initial heads of agreement signed in August this year.

BP delivered strong operating cash flow and underlying earnings in a quarter that saw lower oil and gas prices and significant hurricane impacts. Our focus remains firmly on maintaining financial discipline and delivering safe and reliable operations throughout BP. We’re also continuing to advance our strategy, making strong progress with our divestment plans and building exciting new opportunities in fast-growing downstream markets in Asia.

The Board of BP announced that, after a 40-year career with BP and over nine years as group chief executive, Bob Dudley, 64, has decided to step down as group chief executive and from the BP Board following delivery of the company’s 2019 full year results on 4 February 2020 and will retire on 31 March 2020.

The volumes under the deal announced Tuesday, which calls for Kogas to buy 1.58 million mt/year of LNG from BP for 15 years starting from 2025, will be sourced from BP's commitments at Freeport LNG in Texas or Venture Global's Cacasieu Pass terminal in Louisiana,

BP announced that it has agreed to sell its entire business in Alaska to Hilcorp Alaska, based in Anchorage, Alaska. Under the terms of the agreement, Hilcorp will purchase all of BP's interests in the state for a total consideration of $5.6 billion.