BP (BP/ LN) Q4 Trading Statement: "Reported upstream production in the fourth quarter is expected to be broadly flat compared to the prior quarter"; sees Q4 post-tax impairment in the range of USD 4-5bln
BP's Q4 trading statement indicates stagnant upstream production compared to Q3, signaling stability but highlighting pressures within its gas and low carbon sectors.
Additional European Equity News
Japan's Chief Cabinet Secretary Kihara says they will take appropriate action to deal with excessive movements in FX. No comment on FX. Important for FX to move in a stable manner.
BP (BP/ LN) Q4 Trading Statement: "Reported upstream production in the fourth quarter is expected to be broadly flat compared to the prior quarter"; sees Q4 post-tax impairment in the range of USD 4-5bln
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- "Reported upstream production in the fourth quarter is expected to be broadly flat compared to the prior quarter, with production broadly flat in oil production & operations and lower in gas & low carbon energy"
- "In the gas & low carbon energy segment, realizationsc, compared to the prior quarter, are expected to have an impact of USD 0.1-0.3bln, including changes in non-Henry Hub natural gas marker prices. The gas marketing and trading result is expected to be average."
FY Guidance:
- "The underlying effective tax rate for the full year is expected to be around 42% compared to the previous guidance of around 40% primarily due to changes in the geographical mix of profits."
The anticipated post-tax impairment of USD 4-5 billion, alongside a higher effective tax rate, reflects challenges in profitability that could impact investor sentiment and overall valuation, particularly in the context of fluctuating energy prices.
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