Business & MarketsBreaking
BP reports higher third-quarter profit as refining margins rise
By Mantle News
Coverage spectrum
Covered by 3 outlets, mostly left-leaning (67%).
5 articles in total. The spectrum counts each outlet once and leaves opinion out. How we measure bias
BP reported higher third-quarter profit on Friday, according to figures the company released and coverage by Bloomberg, The Guardian and CNBC. BP said its underlying replacement cost profit rose to about $8.5 billion, up from $2.2 billion a year earlier, and attributed the rise mainly to higher refining margins and trading results. Analysts had expected a smaller profit, though the forecasts cited differ between outlets. The company also reported operating cash flow of $28.55 billion over the first nine months of the year and net debt of $13.87 billion. Chief Executive Meg O’Neill said margins were softening a bit heading into the fourth quarter.
Headline and summary written by Mantle’s AI from the coverage below, under published rules. How this works
What happened
Key points
Each point shows who reports it, from Far Left to Far Right.
BP said its third-quarter underlying replacement cost profit rose to about $8.5 billion, up from $2.2 billion a year earlier.
Reported byLeft1Center1See the outletsHide the outlets
- Left
- The Guardian
- Center
- CNBC
BP said profit was the highest in 18 years.
One outletBloomberg· Left
BP said higher refining margins boosted its earnings.
Reported byLeft2Center1See the outletsHide the outlets
- Left
- Bloomberg, The Guardian
- Center
- CNBC
BP’s profit beat analyst forecasts for the quarter.
Reported byLeft1Center1See the outletsHide the outlets
- Left
- The Guardian
- Center
- CNBC
BP reported operating cash flow of $28.55 billion over the first nine months of the year and net debt of $13.87 billion.
One outletCNBC· Center
CEO Meg O’Neill told Bloomberg Television that refining margins are softening a bit as the company looks to the fourth quarter.
One outletBloomberg· Left
What is contested
Where accounts differ
Points the coverage does not agree on, and who says what.
Analysts had expected BP to earn a particular profit for the quarter, which made the result a beat.
The Guardian reports analysts expected $7.33bn. CNBC, citing an LSEG-compiled consensus, reports analysts expected $6.191bn. Both outlets say BP’s actual profit was above the forecast.
How each side tells it
Compare views
Bloomberg, The Guardian and CNBC all report BP’s third-quarter profit jumping to roughly $8.5 billion on higher refining margins. Left-side coverage stresses the size of the jump and the Middle East war driving fuel prices, while the center stresses beating expectations and improved cash flow and debt.
the left
2 outlets
Left-side headlines lead with BP’s profit jump on refining margins, and The Guardian’s ties it to the Middle East war.
BP profits jump as Middle East conflict drives up oil refining margins
The GuardianLeftAll left-leaning headlines the center
1 outlet
The center headline frames the result as profit nearly quadrupling on surging refining margins, and its description says BP smashed expectations.
BP’s third-quarter profit nearly quadruples to $8.5 billion as refining margins surge
CNBCCenterAll center headlines the right
No coverage yet
No right-leaning outlet that Mantle follows has covered this story yet. That absence is part of the picture.
The words they chose
Language to notice
Words that carry a judgement beyond the facts. Tap a highlighted word anywhere on the page to see why.
Left1
beleaguered
Center2
smash profit expectationssmashed
Right
Has not covered this story.
In the outlets’ own words
Loaded modifier
beleagueredMore neutral: under pressure
Labels the company with a judgement about its condition rather than stating facts about it.
…Executive Officer Meg O’Neill a powerful tailwind as she seeks to turn around the beleaguered British energy major.
Used byBloomberg (Left)
Loaded verb
smash profit expectationsMore neutral: beat profit expectations
Uses a dramatic verb for beating forecasts, where a neutral verb would state the same result.
The oil major was the latest to smash profit expectations as global conflicts continue to drive energy market volatility.
Used byCNBC (Center)
Loaded verb
smashedMore neutral: beat
Uses a dramatic verb for beating forecasts, where a neutral verb would state the same result.
Oil major BP smashed third-quarter expectations on Friday, as volatile energy markets and high refining…
Used byCNBC (Center)
See for yourself
Side by side
What each side leads with and what it leaves out. Open a side to read its headlines.
From the left
2 outletsLeads with
- Profit jump to highest level in years
- Refining margins and fuel trading
- Middle East war driving oil and gas prices
- CEO turnaround under way
Leaves out
- Operating cash flow and net debt figures
Reported by other sides, not found in this side’s coverage.
See the 2 headlines from the leftHide the headlines
- The GuardianLeft
BP profits jump as Middle East conflict drives up oil refining margins
Third-quarter underlying replacement cost profit rises to $8.46bn, up from $2.2bn a year ago BP has posted a jump in its quarterly profits as the war in the Middle East drove up oil and gas prices and led to “significantly higher” trading. …
- BloombergLeft
BP's Refining Business Had a 'Banner Quarter,' CEO Says
BP said profit surged to the highest in 18 years as soaring refining margins boosted earnings, giving Chief Executive Officer Meg O’Neill a powerful tailwind as she seeks to turn around the Loaded modifier“beleaguered”Labels the company with a judgement about its condition rather than stating facts about it.More neutral: under pressureDisagree with this highlight? British energy major. …
From the center
1 outletLeads with
- Profit nearly quadrupled year on year
- Beat analyst expectations
- Operating cash flow and falling net debt
- Volatile energy markets
See the headline from the centerHide the headlines
- CNBCCenter
BP’s third-quarter profit nearly quadruples to $8.5 billion as refining margins surge
The oil major was the latest to Loaded verb“smash profit expectations”Uses a dramatic verb for beating forecasts, where a neutral verb would state the same result.More neutral: beat profit expectationsDisagree with this highlight? as global conflicts continue to drive energy market volatility.
From the right
0 outletsNo right-leaning outlet that Mantle follows has covered this story yet. That absence is part of the picture.
The stories you read build My Mix, a private picture of which sides cover the stories you choose, kept on this device. What is My Mix?
The left is Far Left and Left together. The right is Right and Far Right together. Every outlet keeps its own five-point rating.
Who reported it when
How the coverage built up
Left
First to report
Bloomberg, Oct 30, 3:08 AM EDT
Center
1 hr 52 min later
Its first report, Oct 30, 5:00 AM EDT
Right
No report yet
From the outlets Mantle follows
See the order the outlets reported inHide the order
- BloombergLeftOct 30, 3:08 AM EDT
- The GuardianLeftOct 30, 4:06 AM EDT
- CNBCCenterOct 30, 5:00 AM EDT
Times are the ones the outlets published in their own feeds, in Eastern time. Opinion is left out.
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