BP on Tuesday reported a 30% drop in third-quarter profit to $2.3 billion, the lowest in almost four years, weighed down by weaker refining margins and oil trading results.

The energy giant’s chief executive, Murray Auchincloss, has taken a profit-oriented approach and said in an interview that the company’s “principal aim” was increasing earnings.

Britain's BP on Tuesday announced a sharp fall in net profit for the third quarter, with the oil and gas giant hit by weak oil trading and refining margins.