BP reports a massive loss of over $20 billion.

Despite the rise in oil and gas prices, Russia’s withdrawal harmed the group significantly.

BP, the British oil and gas giant, lost a massive amount of money in the first quarter as a result of the exit of Russian Rosneft, despite a surge in revenues due to higher oil and gas prices.

The company reported a net loss of $20.4 billion, compared to a profit of $4.7 billion the previous year, and revenue increased by 40.3% to $51.2 billion.

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