UPDATE: BP Posts Decline In Q2 Adjusted Profit

BP plc

posted a loss in the second quarter. BP posted a quarterly net loss of $1.4 billion pounds, versus a year-ago net profit of $5.7 billion. Its revenue dropped 9% to $95 billion, while underlying replacement cost profit fell to $3.7 billion, from $5.7 billion. BP's total oil and gas production fell 7.4% y/y to 2.275 million barrels of oil equivalent a day. BP shares closed at $41.82 yesterday.