LONDON (dpa-AFX) - BP Plc (BP.L, BP_UN.TO, BP), the British oil major, said on Tuesday that it expects its fourth-quarter upstream production to be lower than the third quarter, with lower output in oil production and operations, and in gas and low carbon energy.
The fourth-quarter earnings will also include non-cash, post-tax charges related to impairments of $1 billion to $2 billion attributable across the segments. These items are treated as adjusting items and excluded from underlying replacement cost profit.
In addition, the company has noted that its Chief Executive Officer Murray Auchincloss has recently undergone a planned medical procedure from which he is recovering well. He will be back in the office by February. Consequently BP has postponed its capital markets event previously scheduled for February 11 in New York to February 26 in London.
BP is scheduled to release its annual earnings report on February 11.
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