BP will post its results on July 28 with JP Morgan expecting a refreshing change from the company post its recent Macondo oil spill disaster settlement with all layers of the US government.
"BP will likely be asked what strategic options it might now consider which (prior to the settlement) were unavailable," the broker said in a client note.
"We look for an update to divestments, but doubt the target ($US10 billion by end 2015) will be changed. If management is not yet ready to lower fiscal year 2015 capital expenditure guidance, it may point to further capex reduction potential in 2016.
"BP may introduce a cost saving target to square with its $1 billion restructuring charge."
Norwegian giant Statoil will also post its June quarter results on July 28.
"Statoil's earnings exposure to European spot gas prices has increased significantly over the last 36 months and the weakness in hub gas prices does not augur well for Statoil's gas realisations," JP Morgan commented.
"We also expect investor and analyst questions on Statoil's exploration plans for H2 2015."
Total will post its June quarter results on July 29 with JP Morgan predicting a 10% increase in production from the previous quarter.
"On the day we expect limited incremental information given that the company will host its 2015 Analyst Day on 23 September," the broker commented.
"Project update - oncost and on-schedule delivery of the key projects in 2014/15 is important for
Total's free cashflow promise and therefore there is obvious investor interest in the company's project update."
Eni will unveil its Q2 results on July 30 with JP Morgan not expecting any sudden change to its significant stake of oil and gas contractor Saipem.
"Eni's production performance in Libya remains good year to date 2015 and we expect an update on the outlook for H2 2015," JP Morgan said.
"With regard to ENI's stake in Saipem, we do not expect a change in the company's stance - a near-term sale of this stake is unlikely, in our view. We also expect an update on Eni's key project start ups in 2015/16."
The broker did not say much on Royal Dutch Shell or BG Group due to their merger plans.
