BP second-quarter profit of $2.8 billion above expectations

• Posted in OilGas
• on July 30, 2019
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BP reported $2.8 billion in second-quarter profit on Tuesday, unchanged from a year earlier, held back by lower oil prices.

BP’s underlying replacement cost profit, the company’s definition of net income, exceeded a forecast of $2.46 billion, according to a company-provided survey of analysts.

Second-quarter production rose to 3.8 million barrels of oil equivalent per day, 4% higher than a year earlier.

BP said it expects third-quarter 2019 reported production to be lower than second-quarter, reflecting maintenance activities as well as the impact of Hurricane Barry on operations in the US Gulf of Mexico.

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