LONDON (AFP) - British energy giant BP said that overall production of its oil products during the third quarter was expected to rise by 11 percent from the equivalent figure last year, helped by its Russian operations.
Production was expected to be equivalent to around 3.880 million barrels of oil per day in the three months to September 30, up 11 percent on a year earlier but down two percent on the second quarter, BP said in a trading update.
Excluding its Russian operations, BP said production was expected to be around 2.935 million barrels per day in the third quarter, below the second quarter average of 3.080 million.
This was the result of planned maintenance projects in the North Sea and Alaska, the impact of Hurricane Ivan to operations in the Gulf of Mexico and an explosion at the Temsah gas platform in Egypt, part-owned by BP.
But this was being "partially offset" by projects in Salah in Algeria and Kizomba in Angola, the group added.
The energy giant was being boosted also from higher oil prices. Brent crude oil prices surged to an average 41.54 dollars per barrel in the third quarter to September, up from 35.32 dollars in the second quarter and 28.38 dollars during the same period a year earlier, it said.
BP said average production for 2004 was expected to be more than 4.0 million barrels per day, up over 10 percent compared with the previous year.
The company was to report official third quarter results on October 26.