BP cuts spend by quarter as virus slashes oil demand
British energy giant BP on Wednesday slashed its planned spending for 2020 by one quarter and announced a USD 1.0-billion hit from collapsing oil prices as the coronavirus outbreak destroys demand. The energy sector has been ravaged by the collapse in the global oil market where the problems have been made worse by a vicious price war between key producers Saudi Arabia and Russia. BP spending this year will stand at USD 12 billion (10.8 billion euros), 25 per cent below prior guidance, it said in a statement. Читать дальше...
