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

The risks of underinvesting in a stock market bubble

The risks of underinvesting in a stock market bubble

Booms and crashes are part and parcel of the market cycle

Laith Khalaf
clock 17 February 2026 • 3 min read
US investment manager Nuveen to buy Schroders in £9.9bn deal

US investment manager Nuveen to buy Schroders in £9.9bn deal

Combined group will oversee almost $2.5trn of assets under management

Linus Uhlig
clock 12 February 2026 • 2 min read
UK DIY investment grew by more than £100bn in 2025

UK DIY investment grew by more than £100bn in 2025

According to data released by Boring Money

Patrick Brusnahan
clock 11 February 2026 • 2 min read