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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 ...
bp’s two nominated directors immediately stood down from Rosneft’s board, and international staff were withdrawn from Russia. We took $24.4 billion charge to accounts in the first quarter, and removed Rosneft earnings, production and reserves from our reporting.
Feb 27, 2022 · BP said it also expects a second non-cash charge of up to $14 billion, for the “carrying value” of Rosneft. BP received revenue from Rosneft in the form of dividends which totalled around US$640 million in 2021, roughly 3 per cent of its overall cash flow from operations.
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 ...
Feb 27, 2022 · bp has confirmed it will off load its 19.75% stake in Rosneft in a move which will cost the company $25bn.. In a statement, the company - which has held a stake in the Russian state-owned enterprise for nine years - cited a US$14bn 'carrying value' and US$11bn non-cash adjustment item charge.
Feb 27, 2022 · 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. 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 ...
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Feb 27, 2022 · It will take an $11 billion foreign exchange non-cash charge after the exit from Rosneft, which BP will no longer include in its accounts. BP said it also expects a second non-cash charge of up to ...
