Third-quarter underlying replacement cost profit rises to $8.46bn, angering climate campaigners BP’s profits have hit their highest level in almost two decades, as the war in the Middle East drove up oil and gas prices and led to “significantly higher” trading. The energy company hailed a “banner quarter” on Friday, with its underlying replacement cost profit – a key measure of its income – almost quadrupling to $8.46bn (£6.3bn), up from $2.2bn a year ago. Continue reading...
BP profits hit 18-year high as Iran war drives up oil refining margins
Source: The Guardian
Original reporting
The Guardian: read the full reportFollow this story
Earlier reports and follow-ups on the same developing story.
Related stories
CNBC
Russian strikes plunge Ukrainian city into blackout as Zelenskyy warns of more missile attacks
Russian strikes caused major power outages in Dnipro as a reported Ukrainian drone attack sparked a fire at a Russian oil refinery.
CNBC
Biggest-ever crypto hack impacts $6.3 billion as Binance works to contain fallout
Binance estimated the impact of a security incident at $6.3 billion, with around $3 billion in crypto assets frozen, and pledged to cover all losses.
BBC Business2 outlets
Streeting denies 'kicking can down the road' in defence spending row
The government is under pressure to set out a path to greater defence spending, as ministers unveil plans to boost UK firms.
CNBC
Euro zone economy slows to 0.4% growth in Q3 as crisis-hit France contracts
The euro zone showed surprising resilience, but weak productivity, industrial competitiveness challenges and demographic pressures remain, analysts said.
The Guardian
UK financial watchdogs monitoring fallout from $6.3bn Binance heist, as ‘elite North Korean hackers’ blamed – business live
Blockchain intelligence firm TRM says North Korea’s TraderTraitor hacking unit is responsible for the largest crypto theft on record North Korean group blamed for $6.3bn Binance hack in biggest ever crypto heist Most major cryptocurrencies have fallen in value since news of the Binance theft broke, Coinmarketcap data shows . That includes: Bitcoin : -2.35% over the last 24 hours, to $77,940 Ethereum : -3.6%, to $2,227 BNB : -5.6%, to $706 Solana : -2.67%, to $97 Chainlink : -3.1%, to $11.02 Temporarily suspended withdrawals while we complete a security revamp of the withdrawal service and its related addresses Revoked the affected address authorizations Engaged law enforcement and blockchain intelligence partners to trace and recover funds Our team hasn’t stopped. We’re working closely with law enforcement to ensure the matter is handled appropriately - and I’ll share what I can, as soon
CNBC
Wall Street braces for Democratic gains as 2026 midterm election nears
Investors are preparing for a blue wave in the midterm election on Tuesday that will determine who controls Congress for the remainder of President Trump's term.