BP makes loss for first time in 7 years

Despite seeing a 39% jump in Profits for the year to 31 Dec 2008 to $25.6bn, BP, the second-biggest oil company in Europe has announced its first quarterly loss in seven years as the global recession spurred a record plunge in demand for oil products.

Shares in BP fell almost 5% in London on the announcement despite showing no price growth when oil prices were high.


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