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- On 27 February 2022, bp’s board decided that bp would exit its 19.75% shareholding in Rosneft and its other business in Russia. bp was the first international company to announce such an exit. That decision remains unchanged and bp has no intention of returning to business as usual in Russia. bp has no operations in Russia.
www.bp.com/en/global/corporate/news-and-insights/press-releases/bps-position-in-russia.html
The bp board today announced that bp will exit its shareholding in Rosneft. bp has held a 19.75% shareholding in Rosneft since 2013. Additionally, bp chief executive officer Bernard Looney is resigning from the board of Rosneft with immediate effect.
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- bp’s position in Russia
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Mar 9, 2022 · Within three days of Looney's summoning his team, BP announced it was abandoning its Rosneft stake at a cost of up to $25 billion, becoming the first major Western company to pull out.
Feb 27, 2022 · LONDON — BP is abandoning its stake in Russian oil giant Rosneft in an abrupt and costly end to three decades of operating in the energy-rich country, marking the most significant move yet by a Western company in response to Moscow’s invasion of Ukraine.
Dec 9, 2022 · bp has no operations in Russia. bp’s nominated directors stood down from Rosneft’s board immediately and bp withdrew its international staff from the country. bp has since withdrawn businesses such as lubricants and aviation. The decision to leave Russia had a material impact on bp.
Feb 27, 2022 · BP to sell its stake in Russia’s state oil company Rosneft. BP said it would also exit three other joint ventures with Rosneft, potentially bringing an end to a lucrative, if often...
Feb 27, 2022 · LONDON, Feb 27 (Reuters) - BP is abandoning its stake in Russian oil giant Rosneft in an abrupt and costly end to three decades of operating in the energy-rich country, marking the most...
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Feb 27, 2022 · BP said Sunday it is exiting its share in Rosneft, a state-controlled Russian oil and gas company, in reaction to Russia’s invasion of Ukraine. BP has held a 19.75% stake in Rosneft since 2013. That stake is currently valued at $14 billion.
