BP reports rise in Q2 profits boosted by increased productionJuly 29, 2014 - 11:35 AMT PanARMENIAN.Net - Oil giant BP has reported a rise in second quarter profits boosted by increased production, according to BBC News. Replacement cost profits, which strip out volatility in oil prices, were $3.2bn, up from $2.4bn in the same period last year. BP said that sanctions imposed over the Ukraine crisis have not affected business so far. However, the oil giant warned that further sanctions could affect its activity. BP has around a 20% stake in Russian energy giant Rosneft. "Any future erosion of our relationship with Rosneft, or the impact of further economic sanctions, could adversely impact our business and strategic objectives in Russia, the level of our income, production and reserves, our investment in Rosneft and our reputation," BP said. European ministers will meet in Brussels on Tuesday to discuss whether to impose further sanctions on Russia over allegations of its involvement in the ongoing crisis in Ukraine. Bolstered European sanctions could affect the Russian oil sector. Related links: Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Armenia-Qatar ties discussed in Doha The Secretary of Armenia’s Security Council met with the Deputy Secretary General of the National Security Council of Qatar. ARARAT special evening dedicated to Aznavour's 100th Anniv. On May 20 ARARAT legendary Armenian brandy, celebrated the centennial of Maestro Charles Aznavour with a special event. Surveying works underway in Armenia’s Kirants Surveying works are underway in the Armenian village of Kirants in the northern Tavush province. Armenia calls for prohibiting threats of attacks on nuclear facilities Armenia has raised the need for a treaty prohibiting attacks on nuclear facilities devoted to peaceful purposes. |