Dolphins swimming through an oil slick following the Deepwater disaster
BP’s profits took a significant hit in the wake of its $18.7billion Deepwater Horizon settlement.
The operator’s profits tumbled 64% with the firm recording a replacement cost profit of $1.3billion for the second quarter. The number is down on the previous quarter’s $2.6billion and last year’s $3.6billion.
Chief executive Bob Dudley said: “The external environment remains challenging, but BP moved quickly in response and we continue to do so. Our work to increase efficiency and reduce costs is embedding sustainable benefits throughout the Group and we continue with capital discipline and divestments.”
Read the full article on our sister website Energy Voice.
BP’s profits suffer after Deepwater Horizon spill payout
