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BP ahead with profits of $5.2b

Tuesday, October 30 07:51:27

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 in the second quarter 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. The result compared with $5.5 billion a year earlier. ( C) Reuters

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