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The other Rosneft director nominated by bp, former bp group chief executive Bob Dudley, is similarly resigning from the board. The resignations will require bp to change its accounting treatment of its Rosneft shareholding and, as a result, it expects to report a material non-cash charge with its first quarter 2022 results, to be reported in May.
Feb 27, 2022 · The UK-listed oil group said in a statement on Sunday that it would no longer report reserves, production or profits from Rosneft, and its chief executive, Bernard Looney, would resign from the ...
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. London-based BP also said its CEO, Bernard Looney, and former BP executive Bob Dudley will immediately ...
- ddurbin@ap.org
- Business Writer
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.
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 28, 2022 · This is an audio transcript of the FT News Briefing podcast episode: BP to sell its stake in Russia’s state-oil company Rosneft. Marc Filippino Good morning from the Financial Times. Today is ...
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Feb 27, 2022 · CEO Looney, Bob Dudley to step down from Rosneft board. BP to write down up to $25 bln following exit. BP says decision follows Moscow's invasion of Ukraine. LONDON, Feb 27 (Reuters) - BP is ...
