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1. www.bp.com › en › globalbp to exit Rosneft shareholding | News and insights | Home

   www.bp.com › en › global

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   Feb 27, 2022 · 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. bp’s financial frame and distribution guidance remains unchanged.

   • Ukraine Response

     bp donates to UK fire service ‘mega-convoy’ bp has donated...

2. www.bp.com › en › globalStatement on media reports regarding bp’s exit from Russia

   www.bp.com › en › global

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   bp’s two nominated directors immediately stood down from Rosneft’s board, and international staff were withdrawn from Russia.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.

3. www.reuters.com › business › energyBP quits Russia in up to $25 billion hit after Ukraine ...

   www.reuters.com › business › energy

   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...

   • Video Duration: 2 min

   • Author: Ron Bousso,Dmitry Zhdannikov

4. www.bp.com › en › globalA message to all bp staff on our relationship with Rosneft

   www.bp.com › en › global

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   Feb 27, 2022 · First, we will exit our shareholding in Rosneft and other businesses with Rosneft within Russia. Second, I am resigning my seat on Rosneft’s board with immediate effect, as is Bob Dudley, our former ceo.

5. seekingalpha.com › news › 3806679-bp-to-break-fromBP to break from Rosneft, will exit its nearly 20% stake

   seekingalpha.com › news › 3806679-bp-to-break-from

   Feb 27, 2022 · BP says the moves will result in a charge on Q1 results, representing the difference between the fair value of its Rosneft shareholding at the end of Q1 and the carrying value of the asset; the...

   • Author: Carl Surran

6. www.reuters.com › markets › asiaBP’s bruising Russian exit almost worth the pain | Reuters

   www.reuters.com › markets › asia

   Feb 28, 2022 · - BP on Feb. 27 said it plans to abandon its 19.75% stake in oil giant Rosneft in the wake of Russia’s invasion of Ukraine, ending its 30 years of operating in the oil-rich country. - BP...

7. People also ask

   Why did BP resign from Rosneft?

   • CONTEXT NEWS - BP on Feb. 27 said it plans to abandon its 19.75% stake in oil giant Rosneft in the wake of Russia’s invasion of Ukraine, ending its 30 years of operating in the oil-rich country. - BP Chief Executive Bernard Looney and Bob Dudley, the oil giant’s former CEO, will resign from Rosneft’s board.

   BP’s bruising Russian exit almost worth the pain | Reuters

   www.reuters.com/markets/asia/bps-bruising-russian-exit-almost-worth-pain-2022-02-28/

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   Will BP exit Rosneft?

   • In a seismic move, the BP chief executive said on Sunday the UK oil giant would exit its 19.75% stake in Rosneft (ROSN.MM), the state-controlled Russian energy major read more . In financial terms the timing couldn’t be worse. But Looney may still get something of a consolation.

   BP’s bruising Russian exit almost worth the pain | Reuters

   www.reuters.com/markets/asia/bps-bruising-russian-exit-almost-worth-pain-2022-02-28/

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   Does BP report Rosneft?

   • 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. bp’s financial frame and distribution guidance remains unchanged.

   bp to exit Rosneft shareholding | News and insights | Home

   www.bp.com/en/global/corporate/news-and-insights/press-releases/bp-to-exit-rosneft-shareholding.html

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   Why did BP rethink its Rosneft investment in 2021?

   • At the end of 2021 these stood at about $11 billion, BP said. - Looney said he had been “shocked and saddened” by the situation in Ukraine which had caused the company to “fundamentally rethink” its Rosneft investment. BP Chairman Helge Lund said Russia’s military action “represents a fundamental change”.

   BP’s bruising Russian exit almost worth the pain | Reuters

   www.reuters.com/markets/asia/bps-bruising-russian-exit-almost-worth-pain-2022-02-28/

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   Does BP own Rosneft?

   • 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 resign from Rosneft’s board.

   BP exiting stake in Russian oil and gas company Rosneft

   apnews.com/article/russia-ukraine-business-europe-ede651ea2e88b19b6bb79828ca4678c3

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   How much will Rosneft cost BP?

   • 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, without saying how it plans to extricate itself.

   BP quits Russia in up to $25 billion hit after Ukraine invasion

   www.reuters.com/business/energy/britains-bp-says-exit-stake-russian-oil-giant-rosneft-2022-02-27/

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8. apnews.com › article › russia-ukraine-businessBP exiting stake in Russian oil and gas company Rosneft

   apnews.com › article › russia-ukraine-business

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   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.