BP expects stronger oil prices to add US$1.8 billion\u2013US$2.1 billion to second-quarter upstream earnings.BP shares rose about 4.2% to US$40.83 after the trading update.The company expects net debt to fall to US$22 billion\u2013US$23 billion despite lower production and several major payments.<\/p>\n
BP (NYSE:BP) expects stronger oil realizations to add US$1.8 billion\u2013US$2.1 billion to second-quarter upstream earnings despite production falling to 2.17 million\u20132.22 million boe\/d.<\/p>\n
The production forecast is below the first quarter\u2019s 2.339 million boe\/d, while Brent averaged US$103.85 per barrel compared with US$81.13 previously.<\/p>\n
Gas and low-carbon energy realizations are expected to add US$500 million\u2013US$700 million, while gas marketing and trading should remain broadly unchanged.<\/p>\n
BP expects refining gains of US$1.2 billion\u2013US$1.4 billion, alongside US$500 million in exploration write-offs and approximately US$1 billion in post-tax impairments.<\/p>\n
BP also expects net debt to fall to US$22 billion\u2013US$23 billion from US$25.3 billion.<\/p>\n
Combined net debt, hybrid capital and Gulf of America settlement liabilities are expected to decline by US$6.3 billion\u2013US$7.3 billion despite US$4 billion in bond and settlement payments.<\/p>\n
BP will publish its full second-quarter results on August 4, when investors will assess whether higher prices and refining margins offset reduced production and impairment charges.<\/p>\n","protected":false},"excerpt":{"rendered":"BP expects stronger oil prices to add US$1.8 billion\u2013US$2.1 billion to second-quarter upstream earnings.BP shares rose about 4.2%…\n","protected":false},"author":2,"featured_media":83042,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[21198],"tags":[34811,67,36703,6704,36699,36700,22504,36704,36698,36697,36701,35102,36702],"class_list":["post-83041","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bp","tag-bay-du-nord","tag-bp","tag-bp-net-debt","tag-bp-plc","tag-bp-second-quarter-results","tag-bp-trading-update","tag-brent-crude","tag-energy-earnings","tag-lse-bp","tag-nyse-bp","tag-oil-realizations","tag-refining-margins","tag-upstream-production"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@UnitedKingdom\/116920238143798493","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/83041","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/comments?post=83041"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/83041\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media\/83042"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media?parent=83041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/categories?post=83041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/tags?post=83041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}