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Energy

BP Reports Highest Quarterly Profit in 18 Years on Strong Refining Margins

Source Summary

BP posted its highest quarterly profit in 18 years, driven by elevated refining margins. The company also achieved a sharp reduction in net debt, positioning it closer to resuming share buybacks.

Why it matters

Strong refining earnings and debt reduction signal improved financial health for a major global energy producer and may influence capital allocation decisions including shareholder returns.

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NYSE:BPLive chart