MOSCOW (Sputnik) – The first-half of 2015 saw a net loss for UK energy giant BP at $3.22 billion, opposed to an almost $6.9-billion profit in the first half of 2014, according to a company report published Tuesday.
This constitutes a loss of $16.62 per share as opposed to the $37.35 per share gain the previous year.
The company’s total revenue declined 38 percent to $116.72 billion from $188.8 billion in the first half of 2014.
On June 30, the company’s net debt stood at $24.8 billion, $400 million more than the same date last year.
Established in 1909, BP is one of the world’s largest energy companies.
Earlier in July, UK-based energy research and consultancy group Wood Mackenzie said that BP had to shelve ambitious exploration projects in light of the global oil oversupply and subsequent price decrease.
