London: British energy giant BP said on Tuesday that its net profit rallied by 28 per cent to $9.47 billion 6.02 billion euros in the second quarter as oil prices surged to record highs. BP’s revenue soared by 49 per cent to $111 billion in the three months to June 30 compared with a year earlier as gas prices also soared, but production was flat at 3.83 million barrels of oil equivalent per day. The group added in its earnings statement that it continues to work to resolve its dispute with Russian investors over their joint venture TNK-BP. "However, currently, it is not possible to predict the ultimate outcome if these matters remain unresolved," the British group said.***BoC buys 30% stake in HFMBeijing: Bank of China, one of the country’s big four state-owned commercial banks, has bought a 30 per cent stake in Switzerland’s Heritage Fund Management HFM, state media reported Tuesday. According to the agreement, the bank will eventually increase its stake to 70 per cent, while Jacques Mechelany, a founder of the Swiss asset management firm, will hold the remaining 30 per cent, the National Business Daily said. No financial details were given. Bank of China declined to comment on the report. HFM was established in 2006 as a partnership between Mechelany and Banque Heritage, a private bank based in Geneva.