BG Profit Declines 3% on Lower Output From Kazakhstan, Egypt - Bloomberg

BG Profit Declines 3% on Lower Output From Kazakhstan, Egypt - Bloomberg:

"BG Group Plc (BG/), the U.K.’s third-largest natural-gas producer, said earnings dropped 3 percent in the second quarter as output declined in Kazakhstan and Egypt.
Profit excluding disposals and one-time items slipped to $986 million from $1 billion a year earlier, the Reading, England-based company said today. That beat the $968.4 million average estimate of eight analysts surveyed by Bloomberg.
In Kazakhstan, production was hurt by a planned shutdown of the Karachaganak field for maintenance. In Egypt, BG saw gas-export volumes drop as reservoirs depleted and more supply was diverted to the domestic market to meet demand.
While operations off Egypt haven’t been affected by recent civil unrest, the crisis remains a “primary concern and will continue to be so as the political, social and business environment evolves,” Chief Executive Officer Chris Finlayson said in a statement."

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