LOSING BIG: BP reported a loss of $1.4 billion for the second quarter due to lower OIL prices and production and as it wrote down the value of some assets.

SLIPPERY SLOPE: The loss was bigger than analysts’ consensus forecast and compared with a profit of $5.7 billion a year earlier. The company also made an additional provision of $847 million for the Gulf of Mexico oil rig disaster and cleanup.

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