BP’s ( BP.L ) first-quarter profit tumbled by two thirds and its debt climbed to its highest in at least five years as the coronavirus crisis hammered oil demand, but the energy major kept its dividend despite warning of exceptional uncertainty. London-based BP said it expected significantly lower refining margins in the second quarter when global restrictions on movement to halt the spread of the virus reached their peak, throttling consumption of gasoline, diesel and jet fuel. BP shares were down 2% at 0750 GMT, as analysts questioned whether sticking with the dividend and hiking debt was a prudent strategy. The broader European energy index .SXEP fell 0.9%. “I can see many reasons why this recovery will take longer and therefore I think we’re in […]