BP's third-quarter 2026 profit reportedly hits $8.46 billion as refining margins climb

BP's third-quarter 2026 adjusted net income reached $8.46 billion, its highest since the third quarter of 2008, Bloomberg reports. Its refining margin indicator rose from the prior quarter as net debt fell to $13.87 billion. Bloomberg says the lower debt gives CEO Meg O'Neill more room to consider shareholder returns, but BP made no new repurchase announcement Friday. Reuters reports BP plans to use some surplus cash to settle remaining Deepwater Horizon liabilities.