BP last reduced its dividend in 2010, when it was suspended for three quarters following the deadly Deepwater Horizon rig explosion.
Company has a 9% stake in DAPL and owns Tesoro High Plains outright.
U.S. shale producer Continental Resources Inc. on Aug. 3 posted a bigger-than-expected second-quarter loss as the coronavirus crisis and related lockdowns pummeled demand.
Diamondback Energy also decreased its cash operating costs “dramatically” in the second quarter, according to CEO Travis Stice, some of which he expects to become permanent.
Falling oil prices hurt company as it pursues a volume-over-price strategy.
Expansion projects are continuing and some have come online.
U.S. refiner Phillips 66 on July 31 reported a quarterly loss compared to a year-ago profit, as coronavirus-led restrictions on businesses and travel destroyed fuel demand and hurt margins.
The U.S. oil major reported a loss of $1.08 billion, or 26 cents per share, in the three months ended June 30.
Chevron wrote down its oil and gas production properties by $5.6 billion, including its entire investment in crisis-ravaged Venezuela.