LNG

April 28 (LNGJ) - UK oil major and LNG operator BP said profits were down 20 percent. Underlying replacement cost profit for the quarter was $2.6 billion compared with $3.2Bln for the same period in 2014. Among its LNG interests, the UK company runs the Tangguh LNG plant in Indonesia and is shareholder in the Alaska LNG project. "We are resetting and rebalancing BP to meet the challenges of a possible period of sustained lower prices," said Chief Executive Bob Dudley. "We are continuing to progress our planned divestment programme, we are resetting our level of capital spending, and we are addressing costs through focusing on simplification and efficiency throughout BP," Dudley added.