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Feb 28, 2022 · It’ll also start unwinding its existing $3bn worth of Russian holdings. This is part of a wider package of support for Ukraine. And in the UK, oil major BP announced that it will divest its 20 ...
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 ...
Feb 28, 2022 · It has led the BP board to conclude, after a thorough process, that our involvement with Rosneft, a state-owned enterprise, simply cannot continue.”. On the line is as much as $25 billion —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
Feb 27, 2022 · BP sold its 50 per cent share in TNK-BP to Rosneft in 2013, for $12.5bn in cash and a fifth of the state-controlled oil company. The Rosneft stake has been similarly profitable. Last year BP ...
Feb 27, 2022 · It came after Norway's $1.3 trillion (£970bn) sovereign wealth fund, which is the world's largest, also announced on Sunday that it would freeze and divest its Russian assets.
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Feb 28, 2022 · Rosneft accounts for almost half of BP’s oil and gas reserves and a third of its production and divesting 19.75% stake will result in charges of up to $25bn (£18.7bn), the company said. It did ...
