Dudley: 2011 'year of consolidation' for BP
BP has reported a loss of $4.9bn (£3.1bn) for 2010, its first annual loss since 1992.
The replacement cost loss comes after taking into account $40.9bn set aside for costs relating to the giant oil spill in the Gulf of Mexico.
The loss compares with a profit of $13.9bn that BP had recorded in 2009.
The company's chief executive, Robert Dudley, told the BBC that BP would restore its dividend payment to shareholders, paying seven cents a share.
He also said he would trim the company's portfolio following the poor results.
01 Feb 2011