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PREMIUM BP has said North Sea developments such as the Eastern Trough Area Project may remain in production for years Picture: BP BP has underlined how much money it expects to generate in the North Sea in coming years despite falling deep into the red amid the fallout from the coronavirus crisis. The giant made a $5.7 billion (£4.2bn) underlying loss last year, compared with a $10bn profit in 2019, as it felt the impact of the market turmoil triggered by the Covid-19 pandemic and associated lockdowns. “2020 will forever be remembered for the pain and sadness caused by Covid-19. Live...

BP Plc offered more evidence that Big Oil has barely begun to heal the wounds from last year's historic slump. (Bloomberg) -- BP Plc offered more evidence that Big Oil has barely begun to heal the wounds from last year’s historic slump. The Western world’s largest energy producers were supposed to be sailing into the fourth-quarter earnings season with a tailwind from stronger commodity prices, but BP’s miss and Chevron Corp.’s surprise loss show the enduring impact of the Covid-19 pandemic. Earnings fell short of expectations mainly due to weak fuel sales and refining margins. BP e...

BP's weak quarter shows big oil has barely begun COVID recovery Laura Hurst, Bloomberg News Fuel prices on a sign at a BP gas station in Louisville, Kentucky, U.S., on Friday, Jan. 29, 2021. BP Plc is scheduled to release earnings figures on February 2. Photographer: Luke Sharrett/Bloomberg , Bloomberg ​BP Plc offered more evidence that Big Oil has barely begun to heal the wounds from last year’s historic slump. The Western world’s largest energy producers were supposed to be sailing into the fourth-quarter earnings season wit...

BP posts weak Q4 results as coronavirus recovery drags on By Laura Hurst on 2/2/2021 LONDON (Bloomberg) --BP offered more evidence that Big Oil has barely begun to heal the wounds from last year’s historic slump. The Western world’s largest energy producers were supposed to be sailing into the fourth-quarter earnings season with a tailwind from stronger commodity prices, but BP’s miss and Chevron’s surprise loss show the enduring impact of the Covid-19 pandemic. Earnings fell short of expectations mainly due to weak fuel sales and refining m...