BP profits lower than expected amid gas trading slump

Results are company’s first since shock exit of its chief executive Bernard Looney last month

BP has reported weaker than expected profits of $3.3bn (£2.7bn) for the third quarter of this year after a slump in its gas trading business.

The company said its profits halved in the three months to September compared with bumper profits of $8.2bn in the equivalent months last year when oil and gas prices soared after Russia’s invasion of Ukraine.