BP Surprises with $2.21 Billion Q3 Profit, Validating Strong Refining Margins

BP beat analysts’ expectations in the third quarter of 2025, reporting an underlying profit of $2.21 billion, up from the $2.02 billion forecast. 

While this figure is slightly below the $2.27 billion recorded a year ago, it signals resilience amid falling crude prices. Brent oil averages dropped about 13%. 

The stronger-than-expected result was driven by higher refining margins, especially in the customers and products division, which posted a profit of $1.61 billion—significantly above last year’s $381 million. 

BP also maintained its quarterly share buyback plan at $750 million, and operating cash flow rose to $7.8 billion, up from $6.8 billion a year earlier. 

The company did not update its larger $20 billion asset-disposal programme, but its CEO, Murray Auchincloss, indicated that about $5 billion of asset sales are expected this year.