BP's dividend is secure

Oil giant BP earned just under $5bn in the third quarter. That was down 50% from last year's third quarter when oil prices peaked, but higher than expected.

Oil giant BP earned just under $5bn over $33,000 a minute in the third quarter. That was down 50% from last year's third quarter when oil prices peaked, but higher than expected.

Production increased by 7%, helped by the absence of hurricane disruption in the Gulf of Mexico. BP also impressed investors by upping its cost-saving target for the year as a whole to $4bn $1bn more than it anticipated three months ago and trimming its debt by $800m. The shares hit a 16-month high.

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