EnergyWatch

BP's market value drops to 26-year low

The British firm suffers under unfavorable winds in the oil industry, with both the coronavirus and sentiments on oil companies having affected demand.

Photo: ARND WIEGMANN/REUTERS / X90184

British oil company BP's market value has dropped below GBP 2 per share, the first time since 1994, The Guardian reports.

The company is currently worth approximately GBP 40.5 billion and as such significantly less than, for instance, Danish utility Ørsted, whose offshore wind business has more than doubled the group's market value in two years, to GBP 51 billion.

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