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British oil giant lost USD 5.7bn last year

BP finished 2020 with a small profit but suffered a massive loss for the full period. Covid-19 and low prices forced the British firm to book major impairments, weighing down on the result.

Photo: Toby Melville/REUTERS / X90004

Most things pointed in the wrong direction for BP in 2020 – just like several of its competitors in the international oil elite – shows the UK company's financial report on the fourth quarter, published Tuesday.

BP lost USD 5.7 billion over the full year against earning USD 10 billion in 2019.

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