The explorer did, however, manage toincrease revenues on the back of higher production of both oil and gas.

Net profit for the year to the end ofDecember was $7.83 billion, well down on the $11 billion seen in 2012.

Revenues went from $139.17 billion to$141.25 billion as total production available for sale shot up 1.5% to 2.2million barrels of oil equivalent per day.