BP Posts Record Third-Quarter Profit of $8.46 Billion
BP reported record third-quarter underlying replacement cost profit of $8.46 billion, supported by stronger refining margins and higher energy prices. Management did not increase shareholder returns as it continues prioritizing debt reduction.
BP NYSE:BP delivered a record third-quarter profit as stronger refining margins and higher energy prices boosted earnings, but management stopped short of increasing shareholder returns as it continues prioritizing debt reduction.Underlying replacement cost profit reached $8.46 billion, comfortably…