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Dec 2, 2022 · bp’s two nominated directors immediately stood down from Rosneft’s board, and international staff were withdrawn from Russia.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.
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.
Feb 27, 2022 · 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’s decision was preceded by a Western media campaign full of false reports and conclusions,” Rosneft said in a statement on its website that was translated by The Associated Press. “The decision of the largest minority shareholder of Rosneft destroys the successful, 30-year-long cooperation of the two companies.”
- ddurbin@ap.org
- Business Writer
Feb 27, 2022 · Kwarteng said on Sunday: “I welcome BP’s decision to exit its shareholding in Rosneft oil company. Russia’s unprovoked invasion of Ukraine must be a wake-up call for British businesses with ...
Feb 27, 2022 · It has caused us to fundamentally rethink BP’s position with Rosneft,” BP Chief Executive Bernard Looney said. The rapid retreat represents a dramatic exit for BP, the biggest foreign investor in Russia, and puts the spotlight on other Western companies with operations in the country including France’s TotalEnergies and Britain’s Shell, amid an escalating crisis between the West and ...
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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 ...
