bp, the giant integrated energy company, expects its results for the third quarter (Q3) of 2025 to show higher oil and gas production, compared to Q2. The company also expects its gas and low carbon revenues to be lower by $0.1 billion compared to Q2 due to the drop in natural gas prices in the non-Henry Hub marker, which is the global natural gas price benchmark outside the U.S. Henry Hub.

In the oil production and operations segment, earnings are expected to remain largely unchanged from the previous quarter, factoring in the effects of pricing delays on bp’s output in the Gulf of Mexico and the UAE, bp said.

Additionally, bp’s third-quarter results are expected to include post-tax adjustments related to asset impairments of $0.2 to $0.5 billion across segments, excluded from underlying replacement cost profit, while net debt is projected to remain stable at around $26 billion.

It is worth noting that bp reported earnings of nearly $2.8 billion in the second quarter of 2024, exceeding analysts’ expectations by 9%, driven by stronger oil prices and robust retail performance, which helped offset the effects of weaker refining margins.