{"id":398697,"date":"2021-02-03T08:44:40","date_gmt":"2021-02-03T03:14:40","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=398697"},"modified":"2021-02-03T09:19:59","modified_gmt":"2021-02-03T03:49:59","slug":"covid-19-crisis-bp-reports-first-loss-in-a-decade-after-brutal-year","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/covid-19-crisis-bp-reports-first-loss-in-a-decade-after-brutal-year\/","title":{"rendered":"Covid-19 crisis: BP reports first loss in a decade after &#8216;brutal&#8217; year"},"content":{"rendered":"<p>BP plunged to a $5.7 billion loss last year, its first in a decade, as the pandemic took a heavy toll on oil demand, with fuel consumption continuing to slide so far this year amid global travel restrictions. <\/p>\n<p>For the last quarter of 2020, BP reported a profit of $115 million, falling short of analysts&#8217; forecasts due to weak oil and gas sales and subdued trading, it said on Tuesday. \u201cThese results reflect a truly tough quarter,\u201d CFO Murray Auchincloss said in a statement. <\/p>\n<p>\u201cWe expect renewed Covid-19 restrictions to have a greater impact on product demand, with January retail volumes down by around 20 per cent year on year, compared with a decline of 11 per cent in the fourth quarter,&#8221; BP said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BP plunged to a $5.7 billion loss last year, its first in a decade, as the pandemic took a heavy toll on oil demand, with fuel consumption continuing to slide so far this year amid global travel restrictions. For the last quarter of 2020, BP reported a profit of $115 million, falling short of analysts&#8217; forecasts due to weak oil and gas sales and subdued trading, it said on Tuesday. \u201cThese results reflect a truly tough quarter,\u201d CFO Murray Auchincloss said in a statement. \u201cWe expect renewed Covid-19 restrictions to have a greater impact on product demand, with January retail [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-398697","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/398697","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=398697"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/398697\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=398697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=398697"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=398697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}