BAKU, Azerbaijan, Aug.4
By Leman Zeynalova – Trend:
Net wind generation capacity of BP was 923MW at 30 June 2020, compared with 926MW at 30 June 2019, Trend reports citing the company.
BP’s net share of wind generation for the second quarter and half year was 673GWh and 1,450GWh respectively, compared with 688GWh and 1,461GWh for the same periods in 2019.
In July, BP agreed to acquire the remaining 50 percent interest in the BP-operated Fowler Ridge 1 wind asset from its current partner, Dominion Energy. Located in central Indiana, the asset includes 162 wind turbines with a generating capacity of 300MW and will increase BP's net wind generation capacity to 1,073MW.
BP's net ethanol-equivalent production* for the first half of the year averaged 14.4kb/d, compared with 9.3kb/d for the 100 percent BP-owned business for the same period in 2019.
The replacement cost loss before interest and tax for the second quarter and half year was $317 million and $1,015 million respectively, compared with $381 million and $927 million for the same periods in 2019.
The results included a net non-operating charge of $16 million for the second quarter and $153 million for the half year, compared with a charge of $91 million and $219 million for the same periods in 2019. Fair value accounting effects in the second quarter and half year had an adverse impact of $41 million.
After adjusting for non-operating items and fair value accounting effects, the underlying replacement cost loss before interest and tax for the second quarter and half year was $260 million and $821 million respectively, compared with $290 million and $708 million for the same periods in 2019.
Other businesses and corporate average quarterly charges, excluding non-operating items, fair value accounting effects and foreign exchange volatility impact, are expected to be around $350 million although this will fluctuate quarter to quarter.
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