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BP posts net income of $8.46 billion, beating expectations
BP said strong cash generation cut net debt by $8.4 billion and put it on track to address $5.94 billion in Deepwater Horizon liabilities.
- On Oct 30, The British major posted third-quarter underlying replacement cost profit of $8.46 billion, surpassing analyst expectations of $7.33 billion and nearly quadrupling year-on-year earnings.
- Volatile energy markets fueled by the Middle East conflict and the war in Iran drove the surge, with CEO Meg O'Neill stating refineries have been "running close to capacity" to maintain supply flows.
- Operating cash flow reached $14.8 billion, enabling the company to allocate $5.94 billion toward settling remaining Deepwater Horizon oil spill liabilities while meeting debt reduction targets ahead of schedule.
- Campaign group Global Witness criticized the results, noting Europe's six largest oil firms generated $89 billion in 2026 profits, with Jonathan Noronha-Gant labeling the earnings "obscene" and fueling tax increase calls.
- Mounting calls for increased sector taxes follow the earnings, though the Chancellor's budget announced on Wednesday contained no levy changes, while the vital Strait of Hormuz shipping route remains closed.
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16 Articles
The IndependentReposted by 
The Independent (US)
The Independent (US)BP reports soaring profits in ‘obscene’ sector haul amid oil price crisis
The firm said profits jumped to 8.46 billion US dollars (£6.31 billion) in the third quarter, up from 2.21 billion dollars (£1.65 billion) a year ago.
·London, United Kingdom
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BP Profit Surges as Refining Windfall Aids O’Neill Turnaround
BP Plc said profit surged to the highest in 18 years as soaring refining margins boosted earnings, giving Chief Executive Officer Meg O’Neill a powerful tailwind as she seeks to turn around the beleaguered British energy major.
·New York, United States
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BP posts net income of $8.46 billion, beating expectations
BP posted third-quarter underlying replacement cost profit, its version of net income, of $8.46 billion on Friday, compared with expectations of $7.33 billion in a company-provided poll of analysts and $2.2 billion a year ago.
·London, United Kingdom
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BP posts $8.5 billion third-quarter profit as oil prices soar
·Englewood Cliffs, United States
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Total News Sources16
Leaning Left3Leaning Right0Center5Last UpdatedBias Distribution62% Center
Bias Distribution
- 62% of the sources are Center
62% Center
L 38%
C 62%
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