British oil giant BP profits slump amid decline in oil refining margins
Briefly

"Profit after taxation slumped to $206 million in the three months to September, after a net profit of $4.9 billion in the same period in 2023."
"The group earlier this month flagged to markets that its latest earnings would take a sizeable hit after oil prices have fallen on concerns over Chinese demand and the prospect of higher crude production in 2025."
"In oil and gas, we see the potential to grow through the decade with a focus on value over volume," chief executive Murray Auchincloss said in an earnings statement.
Read at Fortune Europe
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