British oil major BP raises

British oil major BP Plc has raised $11.9 billion in debt through a problem of hybrid bonds in multiple currencies. The spokeswoman told Reuters in an emailed statement. Because the company seeks to require advantage of low-interest rates to fortify its record.

BP raised $5 billion, 4.75 billion euros ($5.34 billion), and 1.25 billion pounds ($1.56 billion). Within us, Europe, and therefore the UK, respectively, consistent with IFR data.

This is the primary time the corporate has raised money by issuing hybrid bonds. Which place less strain after all sheets because the principal isn’t required to be repaid, the spokeswoman said.

The fundraising comes days after BP decided to write down off up to $17.5 billion. From the worth of its assets, betting the COVID-19 crisis would pressure energy demand and accelerate a shift faraway from fossil fuels.

The team from the Council of Scientific & Industrial Research – North East Institute of Science & Technology, Jorhat reached Tinsukia to review as well as the tremor report using the seismological technique. Installation of 5 seismometer stations to commence. On Thursday and recce to be conducted for the extra site under the guidance of district authorities.

Oil informed that a team

Oil informed that a team from M/s SPA, Mumbai visited the well site to assess the location. For putting the Breathing Air Cascade system for the safety of working personnel during well-capping operation.

Vehicles carrying the second load of Equipment/Materials mobilized from ONGC–Rajamundry & ONGC- Vadodara is in transit. Civil work is ongoing for digging/extension of the second CMT water reservoir (80% of the work completed). Delivery line laying work as well as to the reservoir is ongoing. Fabrication of other infrastructure required for well-capping operation is ongoing at OIL’s Engineering Workshop.

Like its rivals, British oil major is about to require an enormous hit to revenue from an unprecedented collapse in demand thanks to the coronavirus outbreak.

The company said earlier this month, it might cut about 15% of its workforce in response to the coronavirus crisis and as a part of Chief Executive Bernard Looney’s decision to shift the oil and gas major to renewable energy.

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