BP's Q3 performance benefited from strong refining margins, which reflect the spread between the price of crude oil and the fuels derived from it. (EPA Images pic)LONDON: British energy giant BP said Friday that its net profit quadrupled in the third quarter (Q3) as the Middle East war disrupted oil and gas supplies and sent prices surging.
"Profit after tax jumped to US$4.70 billion in the July-September period from US$1.16 billion in Q3 of 2025," BP said in a statement.
Chief executive Meg O'Neill welcomed "a strong set of results, supported by the higher-price, higher-margin environment".
Along with rivals, BP's Q3 benefited from strong refining margins, which reflect the spread between the price of crude oil and the fuels derived from it.
