(MENAFN- Trend News Agency) BAKU, Azerbaijan, April 9. In the first quarterof 2024, bp anticipates an increase in upstream production comparedto the previous quarter, particularly in oil production andoperations, along with a slight uptick in gas and low carbonenergy, the company said, Trend reports.
However, in the gas and low carbon energy sector, bp foreseesome challenges. Realizations compared to the previous quarter areexpected to be lower by an estimated $0.2-0.4 billion.
As the company explained, this decrease is primarily attributedto declines in non-Henry Hub natural gas marker prices, the devaluation of the Egyptian Pound is expected tohave a negative impact of around $0.2 billion.
Despite these challenges, the gas marketing and trading segmentis expected to perform well, bp noted, building on a strongperformance in the fourth quarter of 2023.
Meanwhile, bp is expected to present its 1Q2024 results on May7.
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