BG hits the skids after cutting production guidance

BG Group shocked the market on Tuesday morning by cutting back production guidance as a result of a number of delays to project start-ups.

BG Group shocked the market on Tuesday morning by cutting back production guidance as a result of a number of delays to project start-ups.

The group said production rose 5% year-on-year in the third quarter of 2012 as new projects ramped up, but various factors mean that the group now expects full-year production will be just 3% higher than in 2011, while 2013 output is not expected to show any growth at all.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.