# BP quarterly profit rises on stronger refining margins amid Middle East disruption

- URL: https://talkfuse.com/story/bp-profits-jump-as-middle-east-conflict-drives-up-oil-refining-margins/
- Published: 2026-10-30T08:06:46+00:00
- Updated: 2026-10-30T08:33:06+00:00
- Original publisher: The Guardian (publisher lean: Left)
- Original article: https://www.theguardian.com/business/2026/oct/30/bp-profits-jump-as-middle-east-conflict-drives-up-oil-refining-margins
- Topics: Art, Business, Companies, Culture, Middle East, World

## Key points

- BP’s quarterly profit rose to $8.46bn.
- Refining margins and trading boosted earnings.
- BP plans to address $5.94bn in spill liabilities.

## Summary

BP reported third-quarter underlying replacement cost profit of $8.46bn, up from $2.2bn a year earlier and above analysts’ $7.33bn forecast. The company said higher refining margins and stronger gas and marketing trading drove the increase, as conflict in the Middle East disrupted energy supplies and trade routes.

Fuel prices, including diesel, have reached record levels in the UK, Europe and the US, despite global oil prices remaining below their 2022 peaks. BP said it would use excess cash flow to cover its remaining Deepwater Horizon liabilities, which stood at $5.94bn; its first major strategy update under chief executive Meg O’Neill is expected on 15 December.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.