The company made a replacement cost profit - which strips out the effect of oil price movements - of $238m (£151m) in the April to June quarter.
This compares with a profit of $5.4bn a year earlier.
BP said it had to cut the value of its US shale gas assets and a number of its refineries.
It said its profits were also reduced by the decision to suspend its Liberty offshore oil project in Alaska.
BP chief executive Bob Dudley said: "We recognise this was a weak earnings quarter, driven by a combination of factors affecting both the sector and BP specifically."
Source & Image : BBC
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