BP bolsters financial reserves as profits plunge
To boost its financial reserves BP takes on new $10bn credit facility and sells $7bn of bonds
28 April 2020 - 17:30
London — BP bolstered its financial reserves as the initial stages of the coronavirus pandemic caused its profit to plunge and increased its debt.
While earnings were hit hard in the first three months of the year, the worst of the virus-driven crisis is yet to come. The company expects the pandemic to reduce its production and have a material impact on refining in the second quarter...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.