BP ends last year with $20 billion net loss

The net loss to the shareholders of the British oil and gas company BP amounted to $20.31 billion by the results of 2020.

The report of the energy giant shows that the company's net loss in 2019 amounted to $4.03 billion.

The company made a profit - $1.36 billion - in the fourth quarter of last year, a 71.5-fold increase year-on-year.

In 2020, the company's revenues decreased by 35% to $180.37 billion. In the fourth quarter of last year, this value declined by 37% to $44.79 billion.

Excluding compensation payments related to the large-scale oil spill in the Gulf of Mexico, free cash flow in 2020 was $ 13.8 billion. BP's capital expenditures for the year amounted to $ 12.03 billion. Last year, the figure was $ 15.24 billion.

BP Group's production in 2020 will shrink by 8.1% to 3.47 million barrels of oil equivalent per day.