London (Reuters) – The results of the second quarter of BP should be affected by the drop in gas and petroleum prices, while its upstream production should be superior to forecasts, the company said in a statement on Friday published before its results on August 5.
The prices of crude oil fell during the quarter, the OPEC+ having started to end the production reductions of 2.17 million barrels per day that it had imposed itself in April.
BP said raw oil prices amounted to 67.88 dollars (58.09 euros) a barrel in the second quarter, compared to $ 75.73 a barrel in the previous quarter.
“In the gas and low carbon energy segment, achievements, compared to the previous quarter, should have an impact from (0.1) to (0.3) billion dollars,” said the British major.
“In the segment of oil production and exploitation, achievements, compared to the previous quarter, should have an impact from (0.6) to (0.8) billion dollars,” adds BP
The major also indicates that the results of its gas activity should be means, without giving more details.
The group provides for an increase in average refining margins during the quarter to 21.1 dollars per barrel, against $ 15.2 per barrel in the previous three months.
Its customer and products activity should benefit from the increase in refining margins up to $ 300 to $ 500 million compared to the previous quarter, despite greater maintenance activity in its factories.
The production of oil and BP gas in the second quarter should be greater than that of the first quarter, which amounted to approximately 2.24 million barrels of oil equivalent per day.
The group’s net debt should be slightly lower than that of the previous quarter, which amounted to $ 27 billion.
Shell, his competitor, said at the start of the week to expect his quarterly profits to be affected by the drop in exchanges in his integrated gas division and by losses in his chemical and products.
(Shadia Nasralla, Augustin Turpin and Etienne Breban, edited by Kate Entringer and Augustin Turpin)
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