BP Q3 profit jumps to $8.46 billion as debt falls

BP (NYSE:BP) reported third-quarter 2026 underlying replacement cost profit of $8.46 billion, nearly four times the $2.21 billion recorded in the same period last year.

The result exceeded analyst expectations of approximately $7.33 billion, while the increase reflected stronger refining margins and trading performance.

Operating cash flow reached $14.83 billion, compared with $7.79 billion a year earlier, while reported IFRS profit attributable to BP shareholders increased to $4.70 billion from $1.16 billion.

BP reduced net debt by $8.38 billion to $13.87 billion, meeting its debt target a year ahead of schedule, and declared an interim dividend of 8.66 cents per ordinary share, payable December 18, 2026.

BP said it plans to provide an update on its strategy on December 15, 2026, as it focuses on strengthening its balance sheet, improving operational performance and directing excess cash toward remaining Deepwater Horizon liabilities.

Its shares rose 1.3% in early trading following the announcement.

The company's third-quarter performance was supported by higher refining margins, with its refining indicator margin reaching $46.70 per barrel, compared with $29.60 in the previous quarter and $15.80 a year earlier.