Income takes nose-dive at BP due to low oil price

Oil behemoth BP experienced massive setbacks in the second quarter. That's the picture painted by the interim report released Tuesday morning which shows that the decline was greater than anticipated.

Photo: BP

The recent years characterized by oil price decline have been rough on the sector and left its mark on oil giant BP, which experienced massive setbacks in the second quarter. This was clear from the interim report released Tuesday morning.

The earnings at BP minus special items came to a profit of USD 720 million in April, May, and June. This is a drop from USD 1.3 billion in the same period last year.

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