BP issues results warning as price of oil and gas falls

BP has warned that its second-quarter results, due next month, are likely to be affected by a downturn in oil and gas prices.

- GUY TAYLOR

The average price of crude oil was recorded at US$67.9 per barrel over the quarter, a decrease from $75.7 per barrel in the previous three months.

“In the gas and low carbon energy segment, realisations compared to the prior quarter, are expected to have an impact in the range of $0.1bn to $0.3bn,” BP announced yesterday.