BP today announced its trading update for the third quarter ending 30th September 2006.
BP production for £Q 2006 is expected to be around 3,800 thousand barrels of oil equivalent per day. Excluding production from TNK BP operations, 3Q production in 2006 is expected to stand at about 2,805 thousand barrels of oil equivalent per day.
The margin for Gas, Power and Renewables (GP&R) are expected to be lower in 3Q because of weaker gas and power trading margins in North America.
The total consolidated interest charge for the quarter is expected to be around $100m.
BP announced that during the quarter it had bought back 299 million shares for a total consideration of $3.5bn. Excluding treasury shares, there were 19,863 shares outstanding as of 28th September 2006.