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BP announces slump in profits

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

[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