BP ends Q1 at loss

BP ended the first quarter of 2020 at a loss of $4.365 bln due to the low oil price and decline in demand, Report informs, citing the company.

The company ended the first quarter of 2019 at $2.934 bln in profit.

Revenues dropped from $67.407 to $59.54 bln. Hydrocarbon production fell 2.8% to 3.715 mln barrels of oil equivalent.

Capital expenditures decreased from $3.6 to $3.5 bln. Net debt made up $51.4 bln, while it was $45.08 bln in the same period of 2019.