The company reported Q3 16 earnings with an adjusted net income at $933m above expectation at $750m. The E&P division reported a loss of $224m which was a surprise in our view. Production was down by 6% to 2.1mbpd and should be lower in the last quarter due to maintenance. According to the group, the result for the third quarter reflected lower liquids and gas realizations, lower gas marketing and trading results, higher rig cancellation costs and exploration write-offs partly offset by l
01 Nov 2016
First view: beat estimates but production and Russia came in weaker
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First view: beat estimates but production and Russia came in weaker
BP p.l.c. (BP:LON) | 526 3.7 0.1% | Mkt Cap: 88,488m
- Published:
01 Nov 2016 -
Author:
Alexandre Andlauer -
Pages:
2
The company reported Q3 16 earnings with an adjusted net income at $933m above expectation at $750m. The E&P division reported a loss of $224m which was a surprise in our view. Production was down by 6% to 2.1mbpd and should be lower in the last quarter due to maintenance. According to the group, the result for the third quarter reflected lower liquids and gas realizations, lower gas marketing and trading results, higher rig cancellation costs and exploration write-offs partly offset by l