BP announced its third-quarter results, with underlying replacement cost profit (a proxy for net profit) reaching $8.5 billion, significantly exceeding analysts' expectations of $6.191 billion and approximately 3.9 times higher than the $2.2 billion reported in the same period last year (a nearly threefold year-on-year increase). The company attributed this growth primarily to improved gas and marketing trading, as well as a substantial increase in refining margins. For the first nine months of the year, BP's operating cash flow reached $28.55 billion, and net debt decreased to $13.87 billion. CEO Meg O'Neill noted that energy market volatility and trade disruptions due to global conflicts are ongoing, but refineries operating near full capacity and strategic reserve releases have helped to cover supply shortfalls. Previously, Shell and TotalEnergies also reported record-high refining margins.