BP(US:BP) 智通财经网·2025-07-11 09:17Core Viewpoint - BP is expected to see an increase in oil production and strong performance in its trading business for the second quarter, which is a positive sign for the company as it attempts to recover from years of poor performance [1][2] Group 1: Production and Trading Performance - BP anticipates that its oil production for the three months ending in June will be higher than in the first quarter, contrary to previous expectations of flat production [1] - The company reported a significant increase in profit margins from its refining business, attributed to a substantial rise in maintenance activities [2] - BP's trading performance in oil for the second quarter is expected to be outstanding, while natural gas trading performance is described as average [2] Group 2: Market Context and Challenges - The Brent crude oil price has dropped approximately 9% this quarter, hovering just below $70 per barrel, which is the benchmark price used by BP for financial targets [1] - BP faces increasing pressure to make progress on its turnaround plan announced in February, as its stock price has lagged behind peers [2][3] - The company is also dealing with potential asset impairments ranging from $500 million to $1.5 billion, which could impact positive signs from trading, refining, and upstream sectors [3] Group 3: Financial Position and Strategic Moves - BP's net debt increased by about $4 billion in the first quarter, reaching nearly $27 billion, but is expected to decrease slightly in the second quarter [3] - The CEO has committed to increasing oil and gas production while reducing investments in low-carbon energy, alongside a plan to sell approximately $20 billion in assets by the end of 2027 [3] - BP's market value has declined by a quarter since April of the previous year, making it a target for acquisition rumors, including speculation about Shell potentially acquiring the company [3] Group 4: Leadership Changes - BP is currently searching for a new chairman following Helge Lund's announcement of his departure in April, with several qualified candidates having declined the position [4]