{"id":398707,"date":"2021-02-03T09:06:28","date_gmt":"2021-02-03T03:36:28","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=398707"},"modified":"2021-02-03T09:46:17","modified_gmt":"2021-02-03T04:16:17","slug":"covid-19-pandemic-plunges-bps-annual-losses-to-20-3-billion-despite-fourth-quarter-profit","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/covid-19-pandemic-plunges-bps-annual-losses-to-20-3-billion-despite-fourth-quarter-profit\/","title":{"rendered":"Covid-19 pandemic plunges BP&#8217;s annual losses to $20.3 billion despite fourth quarter profit"},"content":{"rendered":"<p>BP reported Tuesday that it tumbled into a massive $20.3-billion (16.8-billion- euro) net loss last year, despite a slender fourth-quarter profit, as the coronavirus pandemic ravaged global energy demand.<\/p>\n<p>The enormous loss contrasted sharply with net profit of $4.0 billion in 2019, the British energy major said, adding that the oil sector had been &#8220;hit hard&#8221; by the Covid-19 crisis.<\/p>\n<p>The London-listed giant said the loss was driven by tumbling oil and gas prices, as well as significant impairments and exploration write-offs during a tumultuous year for the energy industry. <\/p>\n<p>However in the fourth quarter &#8212; the three months to December &#8212; net profit hit $1.36 billion after the sale of BP&#8217;s petrochemical business to privately-owned rival Ineos for $5.0 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BP reported Tuesday that it tumbled into a massive $20.3-billion (16.8-billion- euro) net loss last year, despite a slender fourth-quarter profit, as the coronavirus pandemic ravaged global energy demand. The enormous loss contrasted sharply with net profit of $4.0 billion in 2019, the British energy major said, adding that the oil sector had been &#8220;hit hard&#8221; by the Covid-19 crisis. The London-listed giant said the loss was driven by tumbling oil and gas prices, as well as significant impairments and exploration write-offs during a tumultuous year for the energy industry. However in the fourth quarter &#8212; the three months to [&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":[146,130,177],"tags":[],"class_list":["post-398707","post","type-post","status-publish","format-standard","hentry","category-deccan-herald-newspapers","category-newspapers","category-oil-gas-deccan-herald-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/398707","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=398707"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/398707\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=398707"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=398707"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=398707"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}