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BP lost USD 5.7 billion last year

BP finished 2020 with a small profit but suffered a massive loss for the full period. Covid-19 and low prices forced the British firm to book major impairments, weighing down on the result.

Photo: Toby Melville/REUTERS / X90004

Most things pointed in the wrong direction for BP in 2020 – just like several of its competitors in the international oil elite – shows the UK company's financial report on the fourth quarter, published Tuesday.

BP lost USD 5.7 billion over the full year. In comparison, the British oil supermajor earned USD 10 billion in 2019.

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