BP sees Q3 net debt at USD 13.5 billion-14.5 billion
BP•BP guided to Q3 2026 net debt of USD 13.5 billion-14.5 billion, down from USD 22.3 billion in Q2. It expects post-tax impairments of USD 3 billion-4.5 billion, mainly in transition businesses.
1. Quarterly outlook
BP guided to Q3 2026 net debt of USD 13.5 billion-14.5 billion, compared with USD 22.3 billion in Q2. Upstream production is expected at 2,190-2,240 mboe/d, versus 2,201 mboe/d in Q2, reflecting maintenance recovery and lower interest in Latin America. Gas and low carbon energy realizations are expected to add USD 0.1 billion-0.3 billion versus Q2, while gas marketing and trading is forecast to be significantly higher. BP expects a weaker customer result, while products are expected to benefit from USD 1.9 billion-2.1 billion in stronger realized refining margins. The underlying effective tax rate is forecast at around 30%, and post-tax impairments are expected at USD 3 billion-4.5 billion, mainly in transition businesses.
