BP Plc third-quarter profit beat analysts’ estimates, boosted by refining profit, as Chief Executive Officer Bob Dudley laid out a plan for deeper cost cuts to withstand low prices.
Earnings from processing crude into fuels and from trading oil and natural gas took profit adjusted for one-time items and inventory changes to $1.82 billion, 40 percent lower than a year earlier, yet exceeding the $1.26 billion average estimate of 15 analysts surveyed by Bloomberg. The company’s shares rose as much as 2.1 percent.
Brazil Energy Insight 
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