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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.
Dec 9, 2022 · 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 to exit Rosneft shareholding
bp will exit its 19.75% shareholding in Rosneft. Both...
- bp to exit Rosneft shareholding
bp will exit its 19.75% shareholding in Rosneft. Both bp-nominated directors to resign from Rosneft board with immediate effect. bp will no longer report reserves, production or profit for Rosneft. Changes in accounting treatment of Rosneft shareholding expected to lead to a material non-cash charge.
Feb 27, 2022 · BP said the changes in the accounting treatment of the Rosneft stake would lead to two “material non-cash” charges in its first-quarter results that could amount to as much as $25bn: an $11bn...
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.
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...
Mar 9, 2022 · Rosneft has said it regretted BP's departure and that BP came under unprecedented political pressure from "regulators and shareholders" to quit the partnership, without elaborating.
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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.
