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Dec 9, 2022 · 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. That decision remains unchanged and bp has no intention of returning to business as usual in Russia. bp has no operations in Russia.
In particular, the following, among other statements, are all forward looking in nature: bp’s intention to exit its 19.75% shareholding in Rosneft and other interests in Russia; the non-cash adjusting item charge expected to be recorded at the time of the first quarter 2022 results, representing the difference between the fair value of bp’s Rosneft shareholding at 31 March 2022 and the ...
Since our decision, bp has not received any dividends from the Rosneft shares. It is our understanding that, under Russian regulations, any payments to a company in an “unfriendly state” such as the UK would go into a highly restricted Russian bank account from which money could not be transferred without Russian government approval.
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 ...
Jun 18, 2022 · BP said on Feb. 27 that it was divesting its 19.75% stake in Rosneft ended three decades of partnership between the two companies and would take a charge of up to $25 billion, without saying how ...
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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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.
