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2020-08-04 14:05:00

BP LOSS $16.8 BLN

BP LOSS $16.8 BLN

BP - 4 August 2020 - BP p.l.c. Group results Second quarter and half year 2020

Resetting for the future in face of difficult conditions

– Underlying replacement cost loss for the quarter was $6.7 billion, compared with a profit of $2.8 billion for the same period a year earlier. The result was driven primarily by non-cash Upstream exploration write-offs – $6.5 billion after tax – principally resulting from a review of BP’s long-term strategic plans and revisions to long-term price assumptions, combined with the impact of…

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