BP profit unchanged year on year due to lower oil prices

BP has reported $2.8 billion (£2.3 billion) in second-quarter profit today (July 30th), unchanged from the previous year, held back by lower oil prices. 

BP’s net income, exceeded a forecast of $2.46 billion according to a company-provided survey of analysts. 

Second-quarter production rose to 3.8 million barrels of oil equivalent per day, 4% higher than a year earlier. 

BP said it expects third-quarter 2019 reported production to be lower than second-quarter, reflecting maintenance activities as well as the impact of Hurricane Barry on operations in the US Gulf of Mexico.

Image: BP

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