Morningstar

BP Slashes Net Debt as Earnings Soar

Provided by Dow Jones Oct 30, 2026, 7:32:00 AM

By Adam Whittaker

BP's third-quarter profit soared and cash flow jumped, enabling the British energy major to accelerate its net debt reduction.

BP reported an underlying replacement-cost profit--a similar metric to the net income that U.S. oil companies report--of $8.46 billion for the third quarter of the year. This compares with the $2.21 billion it reported in the same period last year and the $7.33 billion analysts expected, according to a company-compiled consensus.

Over the quarter, BP put $8.4 billion toward reducing its net debt, leaving it at $13.9 billion from $22.3 billion at the end of the second quarter.

Write to Adam Whittaker at adam.whittaker@wsj.com

(END) Dow Jones Newswires

October 30, 2026 03:32 ET (07:32 GMT)

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