BP Q3 underlying profit down on lower output


BP said replacement cost (RC) net profit was $5.14 billion in the quarter, compared to $1.85 billion in the same period last year, when the group took a large charge related to the oil spill.

RC profit strips out unrealized gains and losses related to changes in the value of fuel inventories, and, as such, is comparable with net income under U.S. accounting rules.

(Reporting by Tom Bergin)