Oil giant BP beats expectations

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Oil giant BP beats expectations
Photo: Martin Meissner/AP

Oil giant BP reports earnings well above expectations and presents a new buyback program.

Despite falling oil prices, BP reported third-quarter revenue of $2.21 billion, down 2.2 percent from the same quarter last year but well above expectations of $1.98 billion, according to a Bloomberg report.

The oil company is also launching a $750 million share buyback program to be implemented before the fourth-quarter report.

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By TTEnglish edition by Sweden Herald, adapted for our readers

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