BBC News | BP profits hit by lower oil price BBC News BP has reported lower profits and says it will cut spending on exploration because of the fall in oil prices. Underlying profits in the final three months of 2014 were down 20% on a year earlier at $2.2bn (£1.5bn). For the full year, profits fell 10 ... Oil Surges Again on Signs Companies Slow Production London Briefing: oil price rout sends BP $1bn into red $100 oil isn't coming back for a 'long time': BP CEO |