The falling value of the rouble and lower oil prices have hit profits at oil giant BP.

The company made $3bn (£1.86bn) in the July-to-September period, down from $3.7bn for the period last year.

BP, a big investor in Russia through its stake in Rosneft, said the depreciation of the rouble against the dollar dragged down profits.

Net income from Rosneft fell to $110m, from $808m in the same quarter last year.

Lower Urals oil prices also hurt profits, BP said in a statement.

Also on Tuesday, Rosneft unexpectedly delayed publication of its own third-quarter profit figures. The company, which is feeling the impact of Western sanctions over Ukraine, did not give a reason.

'On track'

During the quarter, BP paid out another $314m related to the fatal Deepwater Horizon oil rig explosion and subsequent massive oil spillage in the Gulf of Mexico.

The payment brings to $20bn the cumulative charges for the disaster.

Despite the fall in profits, chief executive Bob Dudley was upbeat about the performance.

"Growing underlying production of oil and gas and a good downstream [refining oil] performance generated strong cash flow in the third quarter, despite lower oil prices. This keeps us well on track to hit our targets for 2014," he said.

Source: BBC