BP reports $6.7 billion second-quarter loss after major write downs, cuts dividend
The company also announced that it had halved its dividend to 5.25 cents per share for the quarter, compared to 10.5 cents per share for the first three months of the year.Energy giantreported a significant loss for the second quarter on Tuesday, after downgrading the value of some of its assets on expectations of lower commodity prices.
BP also announced that it had halved its dividend to 5.25 cents per share for the quarter, compared to 10.5 cents per share for the first three months of the year. The breakdown of this figure included $9.2 billion in impairments across the group, largely due to BP's revised forecast for oil and gas prices over the next 30 years, and $1.7 billion of exploration write-offs.
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