The energy giant said that it expected to cope reasonably well with the volatility in oil prices as it reported a third consecutive quarter of earnings that beat analysts’ estimates.

The plan to award six no-bid contracts to Western oil companies had come under sharp criticism from several U.S. senators over the summer.

BP agreed to replace the American head of its Russian joint venture and surrender some control on the board to resolve a bitter dispute with its Russian partners.

BP agreed to replace the American head of its Russian joint venture and surrender some control on the board to resolve a bitter dispute with its Russian partners.

The major Western oil companies are finding it harder than ever to find new prospects even though they are awash in profits and eager to expand.

The British oil company said that a Russian court had barred Robert Dudley, the head of its troubled Russian joint venture, from office for two years.

BP, the British oil giant, reported a 28 percent rise in second-quarter profit, exceeding analyst expectations, as crude oil soared to record levels.

The development is the latest twist in a rising nationalism that is shutting Western oil companies out of energy-rich regions and has wide implications for BP.

The fall of one of Russia’s most prominent foreign investors points to the official corruption that afflicts the country.

BP is fending off a corporate raid by its Russian partners backed by Russian regulatory authorities, a strategy to expel expatriate staff members from their joint venture.