bp, the  British oil giant , posted higher expectations for upstream production during Q2 2025 compared to Q1 2025. The company projects higher oil production and operations primarily in bpx Energy, while slightly higher in gas and low carbon energy.

Meanwhile, bp noted that revenues from the gas and low-carbon energy segment are expected to be impacted by $0.1 to $0.3 billion, including effects from changes in non-Henry Hub natural gas benchmark prices.

Furthermore, the company stated that the performance of the gas marketing and trading segment is anticipated to be in line with typical levels.

In the oil production and operations segment, earnings are projected to be negatively affected by approximately $0.6 to $0.8 billion compared to the previous quarter. This is mainly due to changes in the production mix and delayed pricing impacts related to bp’s output in the Gulf of Mexico and the UAE.

bp is one of the world’s largest oil and gas firms. It operates across more than 60 countries with major businesses in oil and gas exploration, refining, marketing, and low-carbon energy solutions.