BP 4Q Production Increases
BP reported that its total 2001 reported production is projected to increase by around 5.5% compared with 2000 and said it is on track to deliver record fourth-quarter output. BP said fourth-quarter production is projected to increase by around 3% compared with the same period last year, to at least 3.5 million barrels of oil equivalent a day.
Output will increase by around 4% when adjusted for disposals activity and these increases are consistent with its previously-stated growth forecasts.
BP said lower liquids prices in the fourth quarter mean average liquids realizations for the period will be around $6 a barrel lower than in the third quarter.