BP plc (NYSE: BP) reported Q4 EPS of $1.07, $0.11 better than the analyst estimate of $0.96. Revenue for the quarter came in at $52.59 billion versus the consensus estimate of $52.34 billion.

GUIDANCE

1Q24 guidance: BP expects first quarter 2024 reported upstream production to be higher compared to fourth-quarter 2023.

2024 guidance: BP expects both reported and underlying upstream production to be slightly higher compared with 2023. Within this, bp expects underlying production from oil production & operations to be higher and production from gas & low carbon energy to be lower.

For 2024 and 2025 we expect capital expenditure of around $16 billion per annum, in line with our medium term target of $14-18 billion.

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