LONDON, Feb 11, 2025 (BSS/AFP) - Britain's BP on Tuesday said its annual net profit slumped 97 percent last year, as the struggling oil and gas giant pledged to "fundamentally reset" its strategy.

Profit after tax tumbled to $381 million in 2024 from $15.2 billion in 2023, owing to weaker refining margins and asset write-downs, BP said in a results statement.