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Evening Standard
Evening Standard
Holly Williams

BP set for further boost from oil prices, but braces for £740m write-down

British Petroleum Oil PA Graphics Albert Manifold United States
BP has said oil trading is set to be ‘slightly higher’ than the first quarter (PA) - (PA Wire)

BP has said it expects a further boost to oil trading in its second quarter due to the soaring cost of crude, but flagged a write-down of around £1 billion dollars (£740 million) and expects production to fall amid the Middle East conflict.

The FTSE 100 giant said its oil trading result is set to be “slightly higher” than the first quarter, when the wider customers and products division saw profits surge to 2.5 billion US dollars (£1.87 billion).

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