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The oil giant BP decided this Tuesday, cut by half the payment of your dividend , for the first time since 2010, after the crisis of the COVID-19 crawl to the company to register a loss of half-yearly of more than 18,000 million euros.

in announcing its results, the company reported that it will pay a dividend of 5.25 us $ (4,46 euros) per share in the second quarter compared with 10.5 million (8,9 dollars) in the previous quarter, as a result of the fall in demand of crude oil after the cancellation of flights by the pandemic.

Brent crude, of reference in Europe, which last January was priced at around 70 dollars a barrel , sank below $ 20 in April and currently trades at around 44 dollars.

In its press release sent today to the London Stock exchange, BP reported that it recorded a loss attributed to semi-annual 21.213 million dollars ($18.031 million euros). As indicated, these losses in the first half of the year contrasted with the gains attributed to 4.756 million dollars ($4.042 million euros) earned in the same period of 2019.

The total turnover of the company amounted in the first half -January to June – to 90.730 million dollars (77.120 million), while losses before taxes arrived in the six months to 24.547 million dollars (20.864 billion euros), according to BP, which reports its results in dollars because it is the currency in which quotes the “black gold”.

The BP shares on the London market went up today 6.7 % to stand at 300 pence (333 cents).

net debt amounted to 30 June in 40.900 million dollars (34.765 million euros), compared to 46,500 million dollars ($39.525 million) the previous year, and its liquidity reached to 47,000 million dollars ($39.950 million euros).

The oil company estimated that the global demand of crude be between 8 and 9 million barrels per day less than in 2019 and warns that there is a risk that the pandemic will have a lasting impact on the global economy, with a possible weakness of the demand for energy over a sustained period.

in Addition to the pandemic, the oil sector faced problems of geopolitical nature after Saudi Arabia and Russia to initiate a price war to the beginning of the year, to which was added after the pandemic of the coronavirus which pushed the demand lower.

In the first half of 2020, BP repurchased 120 million shares of common stock for 776 million dollars (659 million euros), and made acquisitions in the first half of the year by the value of 67.656 million dollars (57.507 million euros).

The ceo of the company, Bernard Looney, noted that these results pose another moment, “much a challenge” for the sector, although he pointed out that the performance of the company is resistant, “with a good flow of cash and, more importantly, safe operations and responsible”.

BP reported that it is closely monitoring the impact of the COVID-19 in their global operations and that so far there has not been a significant operational impact direct, although this may change in the remainder of the third quarter of the year (July to September).

Also reported that it provides support to the communities in which it operates, such as providing discounts to the emergency services and health workers in the United Kingdom and the united States, as well as donating protective equipment (PPE) to the health and the promotion of the use of masks in Africa.

in Addition to the results, the company reported that it expected that by the end of this decade, you can invest some 5,000 million dollars (4.250 million euros) in projects of low-carbon.

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