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February 04, 2014 AT 2:05 PM
BP says its fourth-quarter profits fell by nearly a third as the company felt the impact of asset sales following the Gulf of Mexico oil disaster. Net income dropped 30 percent to $1.04 billion from $1.49 billion in the same quarter the year before. The Gulf of Mexico spill continues to eat into profits. The aftermath of the 2010 Deepwater Horizon disaster cut pretax profit by $189 million in the quarter and $469 million over the year.