Aker BP Q3 profit lags forecast, lifts output guidance (updated)

Aker ASA

30/10/2024 05:15

(Adds outlook in paragraphs 1, 3, quotes in paragraphs 4-5)
       OSLO, Oct 30 (Reuters) - Norwegian oil company Aker BP
 AKRBP.OL , partly owned by BP  BP.L , on Wednesday reported a
bigger-than-expected decline in third-quarter operating profit
and said full-year output would be in the upper half of its
guidance.
    The group's profit before interest and tax fell to $1.70
billion from $2.62 billion a year earlier, weighed down by lower
prices, against an average $1.89 billion forecast in a poll of
analysts compiled by the company.
    The company raised its full-year output guidance to between
430,000-440,000 barrels of oil equivalent (boe) per day from a
previous plan of between 420,000-440,000, and cut its production
cost outlook to $6.5 per boe from $7.
        "We are pleased to report another quarter of high
production efficiency, supported by smooth execution of our
maintenance program," Aker BP CEO Karl Johnny Hersvik said in a
statement.
  
        "This performance has allowed us to increase our
production guidance for 2024 and reinforces our position as an
industry leader in both low costs and low emissions," he added.
  

 (Reporting by Nerijus Adomaitis, editing by Terje Solsvik)
 ((nerijus.adomaitis@thomsonreuters.com; +47 9027 6699; Reuters
Messaging: nerijus.adomaitis.thomsonreuters@reuters.net))