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BP reported record underlying profit of $8.46 billion for the third quarter, beating analysts’ expectations of $7.33 billion and up from $2.2 billion in the same period last year. The company attributed the results to higher energy prices and refining margins amid tensions related to Iran, and said it would use the windfall to settle its remaining liabilities from the Deepwater Horizon incident. Operating cash flow reached $14.8 billion, while net debt fell to $13.9 billion—meeting its reduction target a year ahead of schedule.
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