BP announces slump in profits

[LONDON] Profits at BP slumped in the third quarter, the British energy giant said on Tuesday against a backdrop of sliding crude oil prices.

Net profit tumbled 63 per cent to US$1.29 billion (1.0 billion euros) in the three months to the end of September, compared with the outcome for the equivalent period in 2013, BP said in an earnings statement.

AFP

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes