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1. • • 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.
     www.reuters.com/business/energy/britains-bp-says-exit-stake-russian-oil-giant-rosneft-2022-02-27/

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

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

   www.bp.com › en › global

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   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.

3. financialpost.com › commodities › energyBP quits Russia in up to $25-billion hit after Ukraine invasion

   financialpost.com › commodities › energy

   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.

4. www.bbc.com › news › business-60548382BP to offload stake in Rosneft amid Ukraine conflict - BBC

   www.bbc.com › news › business-60548382

   Feb 27, 2022 · BP is to offload its 19.75% stake in Russian state-owned oil firm Rosneft after Russia's "act of aggression in Ukraine". The oil giant had come under pressure from the UK government to make the...

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

   www.bp.com › en › global

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   Dec 2, 2022 · bp’s two nominated directors immediately stood down from Rosneft’s board, and international staff were withdrawn from Russia.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.

6. 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.

7. People also ask

   Why did BP leave Rosneft?

   • (AP Photo/Caroline Spiezio, File) 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.

   BP exiting stake in Russian oil and gas company Rosneft

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

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   What happened to Rosneft?

   • This is described in detail in our most recent results - see p21 of bp’s 3Q results. 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.

   Statement on media reports regarding bp’s exit from Russia

   www.bp.com/en/global/corporate/news-and-insights/press-releases/statement-on-media-reports-regarding-bps-exit-from-russia.html

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   What happened to Rosneft in the first quarter?

   • We took $24.4 billion charge to accounts in the first quarter, and removed Rosneft earnings, production and reserves from our reporting. We continue to pursue options to complete our exit from Russia which is complex, due to both international sanctions and Russian government restrictions.

   Statement on media reports regarding bp’s exit from Russia

   www.bp.com/en/global/corporate/news-and-insights/press-releases/statement-on-media-reports-regarding-bps-exit-from-russia.html

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   Does BP own Rosneft?

   • BP is to offload its 19.75% stake in Russian state-owned oil firm Rosneft after Russia's "act of aggression in Ukraine". The oil giant had come under pressure from the UK government to make the move since Thursday's invasion. It has held the shareholding in the Russian company since 2013.

   BP to offload stake in Rosneft amid Ukraine conflict - BBC

   www.bbc.com/news/business-60548382

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   What happens if BP resigns from Rosneft?

   • 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.

   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 Rosneft 'divest'?

   • Rosneft supplies fuel to the Russian army. Immediately offloading the stake to a potentially inappropriate buyer was not an option. The company has decided to "divest" - meaning it will sever its financial ties with Rosneft, stop taking a dividend and step back from its two seats on the board.

   BP to offload stake in Rosneft amid Ukraine conflict - BBC

   www.bbc.com/news/business-60548382

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8. www.ft.com › content › 8b4968fa-40d8-40ae-b2f9-f12cdBP to divest stake in Russian state-oil company Rosneft

   www.ft.com › content › 8b4968fa-40d8-40ae-b2f9-f12cd

   Feb 27, 2022 · BP to sell its stake in Russia’s state oil company Rosneft. BP said it would also exit three other joint ventures with Rosneft, potentially bringing an end to a lucrative, if often contentious,...