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According to Reuters, the index was down 17.46 points at 09:12 GMT, with BP recording the largest fall.
The energy giant lost 3.9 per cent after posting a 33 per cent increase in replacement cost profit for the fourth quarter - a figure lower than analysts had expected.
Royal Dutch Shell dropped 0.7 per cent ahead of releasing its financial results on Thursday, but demand for mining shares helped limit the FTSE's retreat.
Gains of as much as 1.7 per cent were recorded by Xstrata, BHP Billiton and Eurasian Natural Resources, while Rio Tinto added 2.4 per cent after Citigroup upgraded the company's stock rating to 'buy'.
Mining companies have recovered from the falls that were recorded 24 hours previously, when Xstrata, BHP Billiton and Rio Tinto were all down during what was a quiet start to the week's trading.
Posted by Greg Secker
