BP's (BP) Q2 results are expected to include post-tax adjusting items relating to impairments of around $1.0 billion.

"These charges are primarily attributable to transition businesses in the gas & low carbon energy segment and are excluded from underlying replacement cost profit," the company said in a trading statement early Tuesday.

Net debt at the end of Q2 is expected to be $22 billion to $23 billion, down from $25.3 billion duiring Q1.

Shares of the company traded 1.7% higher in premarket activity.