LONDON - BP faced another net loss in the second quarter but has now drawn a line under the 2010 Gulf of Mexico oil spill disaster, the British energy giant said on Tuesday. BP also booked a net post-tax non-operating charge of $2.8 billion for costs linked to the oil disaster. London-listed BP had clocked enormous losses last year on costs linked to the deadly spill. BP added that this year's capital expenditure was now expected to fall below $17 billion. Stripping out exceptional costs and changes to the value of oil inventories, BP also reported Tuesday a net profit of $720 million in the second quarter, down 45 percent from a year earlier on low oil prices.

Source: Bangkok Post July 26, 2016 07:18 UTC