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first_img BP POSTED its first annual loss in almost 20 years yesterday, but granted a dividend to shareholders as it attempts to move on from last April’s Gulf of Mexico disaster. BP lost $4.9bn (£3bn) in 2010 due to mounting Gulf spill clean-up and compensation costs, though the firm made a $4.4bn profit in the fourth quarter of the year once the changing cost of oil was stripped out. BP will pay dividends for the first time since the Gulf spill, with shareholders receiving a reduced payment worth 4.3p, in line with forecasts. The oil giant produced 3.67m barrels of oil equivalent per day during the last three months of the year, down nine per cent on the previous year due to asset sales and the ongoing drilling moratorium in the Gulf. New chief executive Bob Dudley said 2011 would be a year of consolidation for the firm, warning that production levels are likely to remain lower as it continues to sell off parts of the business. BP hopes to start 32 new exploration projects over five years. More From Our Partners Supermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comConnecticut man dies after crashing Harley into live bearnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com whatsapp Tags: NULL KCS-content BP promises change after $4.9bn losses center_img Show Comments ▼ Tuesday 1 February 2011 9:09 pm Share whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure SolutionAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCutelast_img read more