The Gulf of Mexico natural disasters however forced BP chief executive John Browne to revise downwards the group's estimate of average daily energy production for 2005.

Third quarter net profit, excluding gains from the value of its crude oil inventories, increased by 16 percent when compared with the 3.79 billion dollars BP earned during the third quarter of 2004.

Net profit stood at 5.33 billion dollars during the third quarter in 2005, before stripping out a one-off charge totalling 921 million dollars.

BP's share price fell after the above profit figure failed to meet analysts' average forecast of 5.42 billion dollars, dealers said.

The energy group was down 0.89 percent at 611 pence in late afternoon deals, while London's FTSE 100 index of leading shares was 0.10-percent lower at 5,202.50 points.

BP's results meanwhile showed that adjusted net profit rose 25 percent to 14.88 billion dollars during the first nine months compared with the same period in 2004.

The company had warned earlier this month that hurricanes Katrina and Rita would cut third-quarter profit by at least 700 million dollars and output by 2.0-percent to 3.824 million barrels of oil equivalent per day.

"The recent hurricanes in the US have impacted our results," Browne said in a statement accompanying the results.

Speaking later to reporters, the chief executive said that owing to the hurricanes BP expected full-year production to average around 4.0 million barrels of oil equivalent per day (boepd), below its guidance of 4.1-4.2 million.

"These were two of the most destructive storms of recent times in what has been the most active hurricane season in more than 70 years," Browne told a press conference.

"As a result, the full year's production rate is estimated to be about 4.0 million boepd, plus or minus a small amount," he added.

Browne meanwhile noted that repair costs to its Thunder Horse platform in the Gulf of Mexico would reach 250 million dollars, after suffering damage at the hands of Hurricane Dennis in July.

Despite such financial losses, BP's underlying performance remained "strong", Browne said, "amplified by high but volatile prices of oil, gas and products".

Oil prices reached a historic high point of 70.85 dollars per barrel on August 30, the day after Hurricane Katrina had battered oil facilities in the US Gulf of Mexico.

However crude futures have eased significantly in recent weeks on signs of weakening demand and a build-up in petroleum reserves in the United States, the world's biggest energy user.

Browne on Tuesday said that crude futures were likely to remain "well supported" into the northern hemisphere winter.