BP (BP.US) Q3 profit soars to an 18-year high: refining business becomes a "money printer," CEO's reforms get a strong tailwind

Zhitong Finance APP has learned that, benefiting from soaring refining profit margins, BP's (BP.US) quarterly profit jumped to its highest level in 18 years, providing strong support for CEO Meg O'Neill's reform of the British energy giant. BP said in a statement on Friday that third-quarter adjusted net profit was $8.46 billion, up from $2.21 billion in the same period last year and far exceeding the market's previous expectation of $7.3 billion. More than half of the profit came from the division that includes refining and trading businesses. The company's net debt fell sharply.