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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/02/bp-sees-3bn-loss-after-oil-spill.jpg"><img class="alignnone size-full" title="BP chief executive Bob Dudley said the embattled firm would resume its quarterly dividend payment" src="http://londonglossy.com/wp-content/uploads/2011/02/min-bp-sees-3bn-loss-after-oil-spill.jpg" alt="BP chief executive Bob Dudley said the embattled firm would resume its quarterly dividend payment"/></a></p>
<p>BP has suffered its first annual loss in nearly two decades after revealing that the Gulf of Mexico oil spill will cost it more than 40 billion US dollars (£25.2 billion).</p>
<p>The British energy giant recorded a full-year loss of 4.9 billion US dollars (£3.1 billion) in the year to December 31, compared with profits of 13.9 billion US dollars (£8.7 billion) in 2009, after the financial impact of the fatal Deepwater Horizon explosion was deducted.</p>
<p>But chief executive Bob Dudley said the embattled firm would resume its quarterly dividend payment &#8211; after it was suspended last summer &#8211; at seven cents (4p) a share, half the level of its last payment in April.</p>
<p>The company also revealed plans to sell two refineries in North America &#8211; including the company&#8217;s plant in Texas City, which was the site of a fatal fire and explosion in 2005.</p>
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