British energy giant BP on Tuesday said its net profits slumped by more than half last year on fines and asset sales linked to the 2010 Gulf of Mexico oil spill disaster, ahead of a US trial later this month.
The BP logo is shown at a petrol station in central London, February 1, 2011. BP said Tuesday that net profits slumped by more than half to $11.582 billion (8.6 billion euros) last year as the group was hit by ongoing fallout from the 2010 oil spill disaster.
Earnings after tax tumbled 54 percent to $11.58 billion (8.6 billion euros) in 2012, compared with $25.7 billion in 2011, BP said in a results statement.
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.