Oil giant BP Plc said its production of oil and gas fell 1.9 percent in the first quarter of 2006 compared to the same period last year, but it signalled a better-than-expected performance at its refining business.
The world's second-largest listed oil company by market capitalisation said in a trading statement on Wednesday that it produced 4.025million barrels of oil equivalent per day (boepd) of oil and gas in the first quarter.
This was short of the 4.1 million boepd some analysts forecast and down from the 4.1 million boepd BP produced in the first quarter of 2005.
Previously rapid growth at BP's Russian joint venture, TNK-BP, slowed sharply as operations were hobbled by an extremely cold winter.
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