BP’s Production Falls in Q1

BP said its production of oil and gas fell in the first quarter of the year compared to the same period last year, but it signalled a pickup in its refining business.

The world’s second-largest listed oil company by market capitalisation said in a statement on Wednesday that it produced 4.025 million barrels of oil equivalent per day (boepd) of oil and gas in the first quarter of this year.

This compares with production of 4.1 million boepd in the first quarter of 2005. Citigroup said in a note earlier this week it expected production of just under 4.1 million boepd.
Reuters