BP followed in the footsteps of industry peers with a huge third quarter profit that was only slightly down on record earnings posted in the immediately preceding period.

The UK supermajor’s key underlying replacement cost profit was $8.2 billion — compared with $8.5 billion for the previous quarter — as weaker refining margins took away some of the cash-earning momentum from the previous period.

In the corresponding quarter of 2022, BP's underlying replacement cost profit was $3.3 billion.

BP’s operating cash flow in the quarter was $8.3