BP posts $ 2.5 billion loss in Q3 despite rising prices

British oil giant BP on Tuesday announced a loss of $ 2.5 billion in the third quarter despite soaring oil and gas prices due to an unfavorable accounting effect of $ 6.1 billion before taxes.

In the third quarter of 2020, BP posted a net loss of $ 450 million.

Excluding accounting effects, the group made an underlying profit of 3.3 billion dollars in 3Q 2021, against 86 million a year earlier.