1 de noviembre de 2016 / 8:22 / hace 10 meses

BRIEF-BP Q3 underlying replacement cost profit $933 mln

Nov 1 (Reuters) - BP Plc :

* BP's third-quarter replacement cost (RC) profit was $1,661 million, compared with $1,234 million a year ago

* After adjusting for a net gain for non-operating items of $949 million and net unfavourable fair value accounting effects of $221 million

* After adjusting for a net charge for non-operating items of $2,648 million and net unfavourable fair value accounting effects of $608 million (both on a post-tax basis), underlying RC profit for nine months was $2,185 million

* Says net pre-tax charge of $189 million for Q3

* Net cash provided by operating activities for Q3 and nine months was $2.5 billion and $8.3 billion respectively

* Says net debt* at Sept. 30, 2016 was $32.4 billion, compared with $25.6 billion a year ago. Net debt ratio* at 30 September 2016 was 25.9%

* BP today announced a quarterly dividend of 10.00 cents per ordinary share ($0.600 per ADS), which is expected to be paid on 16 december 2016

* Q3 capital expenditure on an accruals basis* for Q3 was $3.7 billion, of which organic capital expenditure* was $3.6 billion, compared with $4.3 billion for same period in 2015

* For nine months, capital expenditure on an accruals basis was $11.8 billion, of which organic capital expenditure was $11.5 billion, compared with $13.3 billion for same period in 2015

* Disposal proceeds, as per cash flow statement, were $0.6 billion for Q3 and $2.2 billion for nine months

* Says replacement cost profit before interest and tax for q3 was $978 million compared with $2,562 million for same periods in 2015

* Upstream replacement cost result before interest and tax for Q3 and nine months was a profit of $1,196 million and a loss of $118 million respectively, compared with a profit of $743 million and $1,343 million for same periods in 2015

* Upstream Q3 and nine months included a net non-operating gain of $1,465 million and $1,117 million respectively, compared with a net non-operating charge of $118 million and $596 million for same periods a year ago

* Says upstream underlying replacement cost profit before interest and tax for Q3 was $1,431 million compared with $2,302 million for same periods in 2015

* Says upstream fair value accounting effects had unfavourable impacts of $257 million in Q3 compared with a favourable impact of $217 million in same periods of 2015

* Upstream after adjusting for non-operating items and fair value accounting effects, underlying replacement cost loss before interest and tax for Q3 and nine months was $224 million and $942 million respectively

* Q3 production for quarter was 2,110mboe/d, 5.9% lower than Q3 of 2015

* Q3 underlying replacement cost profit seen at $0.78 billion - analyst average estimate according to Reuters

* Looking ahead, we expect fourth-quarter reported production to be slightly higher than Q3, mainly reflecting recovery from planned seasonal turnaround and maintenance activity

* Lubricants business reported an underlying replacement cost profit before interest and tax of $370 million for Q3

* Petrochemicals business reported an underlying replacement cost profit before interest and tax of $78 million for Q3

* Downstream expect a higher level of turnaround activity compared with Q3, and that industry refining margins will continue to be under pressure in Q4 Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

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