BP reported better than expected results with adjusted net income at $1.5bn compared to $1.2bn expected. By division 1) In the upstream division, underlying results came at $1.37bn compared to a loss of $747m a year ago. The increase was driven by higher liquids and gas realizations and higher production including the impact of the Abu Dhabi ADCO concession renewal. Production was 2.4mbpd up 3% yoy due to the ramp up of major projects. The second quarter production should be broadly flat comp
02 May 2017
Positive cash flow momentum but not enough to convince
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Positive cash flow momentum but not enough to convince
BP p.l.c. (BP:LON) | 513 -22.6 (-0.9%) | Mkt Cap: 86,336m
- Published:
02 May 2017 -
Author:
Alexandre Andlauer -
Pages:
3
BP reported better than expected results with adjusted net income at $1.5bn compared to $1.2bn expected. By division 1) In the upstream division, underlying results came at $1.37bn compared to a loss of $747m a year ago. The increase was driven by higher liquids and gas realizations and higher production including the impact of the Abu Dhabi ADCO concession renewal. Production was 2.4mbpd up 3% yoy due to the ramp up of major projects. The second quarter production should be broadly flat comp