NYTimes: BP Profit Rises, but It Warns of Risks in Russia

BP, the London-based oil company, said on Tuesday that profit rose 65 percent to $3.4 billion in the second quarter, as the company’s once-lucrative business in the United States showed clear signs of recovering from a Gulf of Mexico oil spill of 2010.

But the company also indicated that its large investment in Russia was growing riskier as the United States and Europe weighed escalating economic sanctions against Russia amid worries that Moscow is stepping up its intervention in Ukraine.

BP’s production in the United States, which had been depressed by the combination of its inability to drill after the Gulf of Mexico oil spill as well as by sales of oil fields, rose by almost a third to 429,000 barrels per day, compared with the second quarter of 2013.
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