BP Q2 adjusted net profit $2.71B

|About: BP p.l.c. (BP)|By:, SA News Editor

BP (BP): Q2 adjusted net profit drops to $2.71B from $3.6B a year ago and misses expectations of $3.41B.

$20B Gulf of Mexico oil spill compensation fund has just $300M left, with costs for provision increasing by $1.4B.

Claims beyond that which the fund can pay will come from future profits.

Results also hurt by falling oil prices, a higher tax rate and lower income from Russia. (PR)