BP posts first loss since 1992

clock •

BP reported an annual loss of $4.9bn (£3.1bn) in 2010, the first time the oil giant failed to post full-year profits in almost 20 years.

The loss compares with profits the previous year of $13.9bn and takes into account $40.9bn set aside for costs relating to the Gulf of Mexico oil spill. Robert Dudley, chief executive of BP, said the company would restore its dividend payment to shareholders, paying 7 cents a share. Dividend payouts had been suspended in the wake of last April's spill. Despite the loss, BP's profits during the fourth quarter of 2010 were $4.6bn, a third higher than in Q4 2009. Some of this has been attributed to the rising price of oil, which hit $90 a barrel by the end of last year. Dudley says...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

US midterms: What history tells us about what comes next

US midterms: What history tells us about what comes next

Expect a post-election pop

Dan Lefkovitz
clock 10 November 2026 • 4 min read
Watch PA's Working Lunch with Baillie Gifford - The future of growth investing

Watch PA's Working Lunch with Baillie Gifford - The future of growth investing

Catch up on the discussion

Professional Adviser
clock 03 November 2026 • 1 min read
Brits better at spotting horror movie warning signs than investment red flags

Brits better at spotting horror movie warning signs than investment red flags

FCA findings

Sophia Panayi
clock 02 November 2026 • 2 min read