Oil giant enters new era in major decline

BP did not live up to the high standards of 2018 but rather cut its bottom line by a fifth. Tough market conditions pressured the result for the company, which is going through major changes and now wants to divest further.

Photo: Handout ./Reuters/Ritzau Scanpix

The new chief executive of British Petroleum (BP), Bernard Looney, had probably wished for a better starting point before taking his position at the company.

At any rate, BP's annual report on 2019, published Tuesday morning, shows that the company lost ground during the year.

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