Strong refining helps lift BP Q3; beats forecasts

Reuters

Unusually strong refining margins helped lift third quarter profits for international oil company BP Plc in the third quarter to $5.2 billion, up from $3.7 billion a year ago and well ahead of expectations.

The company's downstream division - outside oil and gas production where production was little changed - delivered a record profit due to the high margins caused by tight fuel supplies in U.S. and European markets.

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(Reporting by Andrew Callus)