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27 February 2022. 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.
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Mar 9, 2022 · BP urged Rosneft over the past two years to outline a strategy to reduce its own carbon emissions, which helped prompt Kremlin-controlled company to publish targets to reduce emissions from its ...
Dec 9, 2022 · bp’s position in Russia. bp would like to confirm the current status of its business and interests in Russia. bp is exiting Russia. 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.
Feb 27, 2022 · Looney and his predecessor as CEO Bob Dudley will both step down from the board of Rosneft, which BP acquired a shareholding in as part of its US$12.5 billion TNK-BP stake sale in 2013. BP held a board meeting on Friday and another on Sunday where the decision to quit Rosneft, as well as two other joint ventures BP has with Rosneft in Russia, was taken, a spokesperson for the company said.
Feb 27, 2022 · Rosneft accounts for around half of BP's oil and gas reserves and a third of its production and divesting the 19.75% stake will result in charges of up to $25 billion, the British company said ...
Feb 27, 2022 · BP sold its 50 per cent share in TNK-BP to Rosneft in 2013, for $12.5bn in cash and a fifth of the state-controlled oil company. The Rosneft stake has been similarly profitable .
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Release date: 2 December 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.
