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Russia’s invasion of Ukraine
korrespondent.net
- 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.
apnews.com/article/russia-ukraine-business-europe-ede651ea2e88b19b6bb79828ca4678c3
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...
Dec 2, 2022 · bp’s two nominated directors immediately stood down from Rosneft’s board, and international staff were withdrawn from Russia.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 · 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.
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 28, 2022 · BP’s decision to reclassify the investment and take a paper loss without triggering a fire sale or immediately writing down the stake to zero made a lot of sense, said Aperio’s Voloshin.
- Neil Hume
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.
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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.
