LONDON, Aug 4 — BP plunged into a net loss of almost US$16.85 billion (RM71 billion) in the second quarter, the British oil giant announced today, as the coronavirus pandemic ravaged demand for oil, sending prices tumbling. “The ongoing severe impacts of the Covid-19 pandemic continue to create...
The quarterly loss after tax of almost US$16.85 billion compared with net profit of US$1.82 billion in the second quarter of 2019, BP said. — Reuters pic
“Looking ahead, the outlook for commodity prices and product demand remains challenging and uncertain,” it added. Alongside its results, BP set out details on how it expects to achieve “net zero” carbon emissions for the company by 2050. The Irish national, who became CEO of BP in February, had previously said he wanted “net zero” carbon emissions for the company by the middle of the century.
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