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Big oil's worst-ever loss puts historic BP dividend cut in play

All five western fossil fuel supermajors are forecast to present quarterly losses.

Photo: Angus Mordant/Reuters/Ritzau Scanpix

For the first time since the West’s five energy supermajors were created in the early 2000s, all of them are set to post a quarterly loss.

Once a money-making machine, Big Oil is now relying on ever-increasing amounts of debt, raising the pressure on highly prized dividends. BP Plc may cut its payout for the first time since the Deepwater Horizon disaster a decade ago.

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