Analysts predict BP to be hardest hit among several firms, with ‘cost profits’ down to £1.3bn compared to $3.2bn in the first three months of 2014
BP and Shell will this week report a collapse in first-quarter profits of around 60% on the same period of 2014 underlining the financial damage being inflicted by low oil and gas prices.
Analysts predict BP will be hit the hardest, putting further pressure on chief executive, Bob Dudley, as he tries to steer the company back to full health amid continuing fallout from the Deepwater Horizon accident.