BP posts Q2 loss as output falls

London: Oil company BP has reported a loss of $1.4 billion (Dh5.14 billion) for the second quarter on the back of lower prices for oil and gas as well as reduced output. BP reported on Tuesday that its net loss compared to a net profit of $5.7 billion a year earlier. Revenue was down 9 per cent at $95 billion. Underlying replacement cost profit for the period was $3.7 billion, down from $5.7 billion a year earlier.