BP’s net profit after tax reached $4.7 billion in the third quarter, about four times the $1.16 billion recorded in the same period of 2025, the company said. The results cover July through September and were announced on Friday, October 30.
The company said the conflict in the Middle East disrupted oil and gas supplies and drove prices higher. BP also benefited from strong refining margins, which reflect the difference between the cost of crude oil and the prices of refined fuels.
Production and exports of refined products in the Middle East remained severely affected, while refineries outside the conflict zone benefited from tighter global supply. BP CEO Meg O’Neill described the results as solid, supported by higher prices and wider margins.
BP also reported that net debt fell to $13.87 billion in the third quarter, from $22.25 billion in the previous quarter. The company said it met its cost-reduction targets.
Sources: Folha Mercado.