BP suffers billion dollar deficit in the 4th quarter

British oil group BP was hit by several factors in the past year. The collapsing oil price, western sanctions and US clean-up efforts resulted in a billion dollar deficit in the 4th quarter.

Photo: BP

BP has published its interim report for the 4th quarter and full-year result for 2014 and the British company, like most other oil companies, saw its numbers decline in the period - especially due to the diving oil prices.

BP notes a deficit of no less than USD 4.4 billion in the 4th quarter, a massive drop from last year where the company achieved a profit of about USD 1 billion.

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