BG’s Q1 results lower than expected




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British and firm, BG Group, which has operations , on Thursday said had posted first quarter profits that were lower than expectations.
This announcement was made a couple of days after CEO, Chris Finlayson, resigned for personal reasons with immediate effect.
He had been at the helm of the FTSE 100 firm for 16 , a period during which the company had many challenges to with. BG Group posted a 6 percent to $2 during the quarter, but comforted investors by saying its huge projects were currently underway and doing well to meet its 2014 target of 590,000-630,000 barrels of a day, according to Reuters.
“Following the surprise departure of the CEO this week, BG’s Q1 prove reassuring for investors,” analysts at Bernstein Research told Reuters.
The company said has started the search for Finlayson’s successor. “The search is under way, we are ready and we wait to get the right CEO,” Reuters quoted interim chairman, Andrew Gould, as saying.
BG’s first-quarter exploration and (E&P) volumes sagged 4 percent, battered by output glitches the troubled .
, BG Group’s liquefied natural (LNG) strategy was unsuccessful in delivering any freight in the first quarter of this year. (VENTURES )