British energy giant BP says it expects its production to have fallen by 2.5% during the second quarter of this year from the figure for the same period in 2005.
BP said production was likely to have dropped to just over four million barrels of oil equivalent per day in the three months ending June 30, compared with 4.1 million a year earlier, according to a trading update.
Loss of production, however, is being offset by high oil prices. During the second quarter, the average price of Brent North Sea crude oil stood at $69.53 a barrel compared with $51.63 during the second quarter in 2005.
