As previously mentioned, the company missed analysts’ expectation by 15% for the second quarter of 2016, driven, in our view, by the E&P division which reported a loss of $100m for the quarter, less than in Q1 16, but still a loss with oil at $45/bbl on average over the quarter. 1) Indeed, the E&P division saw its production lower than expected, down 1% yoy to 2.09mbpd (up 1.5% on an underlying basis). The US division reported a loss of $419m compared to a loss of $863m in Q1 16
27 Jul 2016
Difficult H2 16 ahead, much better time as from 2017
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Difficult H2 16 ahead, much better time as from 2017
BP p.l.c. (BP:LON) | 513 -22.6 (-0.9%) | Mkt Cap: 86,336m
- Published:
27 Jul 2016 -
Author:
Alexandre Andlauer -
Pages:
4
As previously mentioned, the company missed analysts’ expectation by 15% for the second quarter of 2016, driven, in our view, by the E&P division which reported a loss of $100m for the quarter, less than in Q1 16, but still a loss with oil at $45/bbl on average over the quarter. 1) Indeed, the E&P division saw its production lower than expected, down 1% yoy to 2.09mbpd (up 1.5% on an underlying basis). The US division reported a loss of $419m compared to a loss of $863m in Q1 16