New York Times | BP Reports Loss as Oil Spill Settlement Takes Toll New York Times Besides lower prices, the central causes of BP's profit decline in its oil and gas operations were sharply diminished production in the Gulf of Mexico because of maintenance and a write-down on exploration in Libya because of political turmoil there ... BP Is Paying Big Time for the Gulf Oil Spill BP swings to 2Q loss of $6.3 billion as oil price falls bite BP profits slump after huge oil spill charge |