ADVERTISEMENT

BP profits plunge on massive writedown

BP profits plunge on massive writedown
Copyright 
By Euronews
Share this articleComments
Share this articleClose Button

British energy giant BP faces further troubles as lower oil and gas prices, as well as a decline in production due to maintenance work has a negative effect on its performance.

An increase in the costs from the 2010 oil spill in the Gulf of Mexico meant the company wrote down $4.8 billion for its assets in the US. As a result it ended the second quarter with $1.4 billion net loss.

Click on the link above to watch our Behind Markets report

Share this articleComments

You might also like