BP PLC (LSE:BP.) reiterated previously announced second-quarter guidance in a trading update this Tuesday.
Avoiding concrete numbers, the oil supermajor said upstream production in the second quarter is expected to be broadly flat sequentially and “slightly lower” in gas and low-carbon energy.
Full-year guidance has upstream production slightly higher than in 2023, with gas and low-carbon energy slightly lower.
As previously announced in BP’s first-quarter update, full-year capital expenditure is tipped to hit $16 billion (£12.5 billion).
Prices on Brent in the second quarter averaged $84.97 a barrel compared to $83.16 a barrel in the first quarter.
But gas prices took a hit, averaging $1.89 per one million British thermal units (mmBtu) in the second quarter compared to $2.25/mmBtu in the first quarter.