The Michigan Public Service Commission today (June 9) approved nearly $50 million in state funds for low-carbon energy infrastructure enhancement and development (EIED) projects across the state, . . .
BP lost $5.7 billion last year after oil prices cratered and gasoline demand plunged amid the global coronavirus pandemic that kept many people home and off the roads.
The London-based energy giant, which operates the BP Whiting Refinery along the Lake Michigan shoreline, had turned a profit of $10 billion the previous year.
â2020 will forever be remembered for the pain and sadness caused by COVID-19. Lives were lost â livelihoods destroyed, said CEO Bernard Looney, who took BP s helm last year. Our sector was hit hard as well. Road and air travel are down, as are oil demand, prices and margins.
BP reported underlying replacement cost profit of $115 million in the fourth quarter, on underlying operating cash flow of $2.4 billion.