BP expects to record a post-tax impairment charge of $3 billion to $4.5 billion in its third-quarter results. The write-downs are primarily linked to its gas and low-carbon energy businesses. This is the second major impairment in the segment in the past year.
BP expects a significantly higher result from its gas marketing and trading division than in the previous quarter. It also forecasts realized refining margins of $1.9 billion to $2.1 billion, a substantial increase from the second quarter.
BP expects net debt to fall sharply and maintained its full-year production guidance. The company will release its third-quarter results on October 30.