BP has confirmed a 25% fall in quarterly profits amid falling world oil prices.
The company said replacement cost profit in its third quarter fell to $2.38bn (£1.48bn) - also a consequence of lower earnings from its investment in Russia's Rosneft.
Despite the performance, BP gave pension funds a boost by increasing its quarterly dividend by 5%.
Oil companies have seen billions wiped off their stock market values in recent weeks after Brent Crude prices dropped 25% over the past four months due to slowing global demand, particularly in China, and ample supplies.
Goldman Sachs recently forecast that the price of Brent Crude - currently at $85-a-barrel - would fall to $80 next year.
London-listed BP owns a 19.75% stake in Rosneft but income from the holding slumped 86% against a year earlier to $110m (£68.2m) as sanctions against Russia over the crisis in Ukraine have weakened the rouble.
BP also confirmed it had now exhausted the $20bn (£12.4bn) fund it had set up to pay claims arising from the Gulf of Mexico oil disaster in 2010, which left 11 workers dead and sparked the worst oil spill in US history.
BP said subsequent costs would be charged to its income statement but the overall provision to cover claims and fines remained at $43bn (£26.7bn).
Chief executive Bob Dudley said of the financial statement: "BP's operational momentum continues to deliver results.
"Growing underlying production of oil and gas and a good downstream performance generated strong cash flow in the third quarter, despite lower oil prices.
"This keeps us well on track to hit our targets for 2014.
Its share price rose 1% in early trading on the FTSE 100.
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