BG Group shares fall on lower production target Shares in the company fell 2pc in early trading after Chris Finlayson, the new chief executive, said BG would not reach its goal of producing more than 1 million barrels of oil equivalent per day (boed) by 2015. He also said production in 2013 would be in the range of 630,000 boed to 660,000 boed this year, raising the possibility it could be lower than 2012"s 658,000 boed level. It cited a series of delays and unexpected production shutdowns at projects in the North Sea and Brazil, its decision to scale back production from shale gas fields in the US, and a field in Egypt producing less than had been expected. Profits dropped to $1bn (£630m) in the final quarter, mostly due to a one-off $277m tax credit in 2011, with full-year profits up 3pc to $4.4bn. Also weighing on the shares today were analysts" worries that the outlook for a big pick-up in LNG earnings. BG now expects profits of $2.5-$2.7bn, compared with $2.6bn for the whole of 2012, which Investec said suggests "little or no growth." Santander analyst Jason Kenny said: "I think there's an element of 'kitchen-sinking' with the new chief executive in play. A more conservative management style tempering all of the estimates as he starts out. The results are BG Group's first since Mr Finlayson succeeded longstanding chief executive Sir Frank Chapman at the start of the year. Mr Finlayson is expected to give a fuller strategy update later in the year. Shares in BG Group have fallen 24pc over the past year.