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- It bought a stake in a small Russian producer in 1998 and through a series of deals came to own 19.75% of the Russian company in 2013. For Rosneft, the partnership with BP gave it access to international financial markets and constituted an important link for the Kremlin with the West.
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.
- Ukraine Response
bp donates to UK fire service ‘mega-convoy’ bp has donated...
- bp’s position in Russia
bp has no operations in Russia. bp’s nominated directors...
- Ukraine Response
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 bp has since withdrawn businesses such as lubricants and aviation.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 said it would also exit three other joint ventures with Rosneft, potentially bringing an end to a lucrative, if often contentious, 30-year relationship between BP and Russia.
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...
Dec 2, 2022 · bp is exiting Russia, we have no intention of “returning to business as usual”. Just three days after Russia’s attack on Ukraine, bp announced that we will exit our shareholding in Rosneft and other businesses in Russia – we said the attack was “a fundamental change.” This is still our position.
Feb 27, 2022 · BP is to offload its 19.75% stake in Russian state-owned oil firm Rosneft after Russia's "act of aggression in Ukraine". The oil giant had come under pressure from the UK government...
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Feb 28, 2022 · Of the oil majors still operating in Russia, Total has the most commercial exposure now BP has decided to dump its 19.75 per cent stake in Rosneft and Shell is moving to end its partnerships...
