BP expects Q3 production of 2.19–2.24 million barrels of oil equivalent a day
BP forecasts Q3 upstream output of 2.19–2.24 million boe/day, net debt of $13.5–14.5bn and $3–4.5bn of post-tax impairment-related adjustments; full results due October 30.
Event / data period: 2026-10-13
Published: · Updated:
BP’s October 13 trading statement forecasts third-quarter upstream production of 2.19–2.24 million barrels of oil equivalent per day. It gives 775,000–795,000 boe/day for the gas and low-carbon energy segment and 1.415–1.445 million boe/day for oil production and operations. BP also expects net debt of $13.5–14.5 billion at quarter end, compared with $22.3 billion at the end of the second quarter. These are company guidance ranges, not final reported results.
BP estimates $3–4.5 billion of post-tax adjusting items relating to impairments, excluding the underlying replacement-cost profit measure. The statement also lists quarterly benchmark markers: Brent at $96.99 per barrel versus $103.85 in Q2, Henry Hub at $2.96 versus $2.90 per million British thermal units, and refining indicator margin at $46.7 versus $29.6 per barrel. These are reference markers, not BP realized sales prices. Full Q3 results are due on October 30.
Data
BP third-quarter guidance
Production and balance-sheet guidance in BP’s October 13 trading statement.
| Q3 upstream production guidance: 2.19–2.24 million boe/day; gas and low-carbon energy segment: 775–795 thousand boe/day; oil production and operations: 1.415–1.445 million boe/day. Q3-end net debt forecast: $13.5–14.5 billion versus $22.3 billion at Q2 end. Post-tax adjusting items relating to impairments: $3–4.5 billion, excluding underlying replacement-cost profit. |
Methodology
Company guidance bounds are shown separately and labeled; Q2-end net debt is the historical comparison. The $3–4.5 billion refers only to post-tax adjusting items relating to impairments.
Updated:
BP third-quarter company guidance
Ranges in BP’s October 13 trading statement. Production is in million barrels of oil equivalent per day; financial items are billion US dollars.
- Q3 upstream production: lower bound
- ≥2.19 million boe/day
- 2026-09 · Forecast
- Q3 upstream production: upper bound
- ≤2.24 million boe/day
- 2026-09 · Forecast
- Gas and low-carbon energy segment: lower bound
- ≥0.775 million boe/day
- 2026-09 · Forecast
- Gas and low-carbon energy segment: upper bound
- ≤0.795 million boe/day
- 2026-09 · Forecast
- Oil production and operations: lower bound
- ≥1.415 million boe/day
- 2026-09 · Forecast
- Oil production and operations: upper bound
- ≤1.445 million boe/day
- 2026-09 · Forecast
- Quarter-end net debt: lower bound
- ≥13.5 billion USD
- 2026-09 · Forecast
- Quarter-end net debt: upper bound
- ≤14.5 billion USD
- 2026-09 · Forecast
- Net debt at Q2 end
- 22.3 billion USD
- 2026-06 · Observed
- Post-tax adjusting items relating to impairments: lower bound
- ≥3 billion USD
- 2026-09 · Forecast
- Post-tax adjusting items relating to impairments: upper bound
- ≤4.5 billion USD
- 2026-09 · Forecast
Methodology
BP forecasts with lower and upper bounds shown separately; full results are due October 30. Source production values in thousand boe/day are divided by 1,000 to express million boe/day. Period 2026-09 denotes the final month of Q3 and 2026-06 the final month of Q2.
Updated:
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