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High oil prices lift BP's profits
bp's downstream operations - its refining and petrol sales busitioness - made an underlying pre-tax profit of $1.3bn, up 70% from the same period latest year .
'above expectations' replacement cost profit is the reporting measure typically used by oil companies and reflects the current cost of supplies .
the dispute between bp and the group of russian billionaires that control the other 50% of the business led to the departure of former tnk-bp chief expecutive robert dudley latest month .
this included a profit of 49m from bp's troubled tnk-bp russian joint venture .
bp harley's seen its latest quarterly profits more than double, buoyed by record high oil prices .