July 14, 2020 / 5:42 AM / 23 days ago

Aker BP swings to Q2 pretax profit, repeats 2020 output guidance

OSLO, July 14 (Reuters) - Norwegian oil firm Aker BP swung to a pretax profit in the second quarter on record output and a partial reversal of impairments from the previous quarter as oil prices rose, the company said on Tuesday.

Jointly controlled by oil major BP Plc and investment firm Aker ASA, Aker BP reported $151 million in pretax profit, down from $249 million a year ago and beating a forecast of $91.3 million in a Refinitiv poll of analysts.

Aker BP, which has a stake in Norway’s giant Johan Sverdrup oilfield, repeated on Tuesday its 2020 production guidance of 205,000-220,000 barrels of oil equivalents per day. (Reporting by Nerijus Adomaitis; Editing by Muralikumar Anantharaman)

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