Oil giant BP said today its oil and gas output grew five per cent in the second quarter from a year earlier and that it was on track to meet its 5.5 per cent output growth target for the year.
Analysts had said that a figure below 4.5 per cent for the three months to June could point to a missed target for the year after zero year-on-year growth in the first quarter.
BP, which has already shifted its target down from a 5.5 - 7 per cent range to a bare 5.5 per cent, has persistently said that it will meet this target this year, and that growth will be "back end-loaded".