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BP provided updated 2Q26 trading guidance, forecasting upstream production between 2,170 and 2,220 mboe/d, down from…
BPPFFBP PLC
BP provided updated 2Q26 trading guidance, forecasting upstream production between 2,170 and 2,220 mboe/d, down from 2,339 mboe/d in 1Q26 due to seasonal maintenance in the Gulf of America and Middle East disruptions. The company expects net debt to decrease to $22–$23 billion from $25.3 billion in 1Q26, following a $2.9 billion redemption of €2.5 billion perpetual hybrid bonds on June 22, 2026, and $1.1 billion in Gulf of America settlement liabilities. Segment realizations for oil production and operations are expected to increase by $1.8 to $2.1 billion, while refining margins are expected to improve by $1.2 to $1.4 billion. BP is an integrated energy company involved in oil, gas, and low carbon energy.