LONDON (dpa-AFX) - BP Plc (BP) said on Tuesday that its second-quarter upstream production is expected to decline from the previous quarter due to seasonal maintenance activities and disruptions in the Middle East, in line with its previously issued outlook.
The company expects upstream production of 2.17 million to 2.22 million barrels of oil equivalent per day in the second quarter, compared with 2.339 million boe/d in the first quarter.
Refining throughput is expected to fall to between 1.445 million and 1.475 million barrels per day from 1.527 million barrels per day in the first quarter. BP attributed the decline to higher-than-expected turnaround activity and ongoing recovery impacts at its Whiting refinery following a third-party incident in April.
BP also said its second-quarter results will include post-tax impairment charges of about $1 billion, mainly related to its transition businesses in the gas and low carbon energy segment. The charges will be excluded from underlying replacement cost profit.
BP shares closed 4.16% higher at $40.83 on Monday.
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