LONDON—BP cut its dividend for the first time in a decade after a record $6.7 billion second-quarter loss, when the coronavirus crisis hammered fuel demand, and it sought to win over investors by speeding up its reinvention as a lower carbon company.
Its shares rose more than 7 percent on Tuesday after BP unveiled earlier than expected a plan to reduce its oil and gas output by 40 percent and boost investments in renewable energy, such as wind and solar, over the next decade.
