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Feb 27, 2022 · BP is cutting ties with Rosneft in response to Russia's invasion of Ukraine.. The British company said in a statement Sunday that it would exit its 19.75% stake in the Russian state oil giant ...
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 27, 2022 · Looney and his predecessor as CEO Bob Dudley will both step down from the board of Rosneft, which BP acquired a shareholding in as part of its US$12.5 billion TNK-BP stake sale in 2013. BP held a board meeting on Friday and another on Sunday where the decision to quit Rosneft, as well as two other joint ventures BP has with Rosneft in Russia, was taken, a spokesperson for the company said.
27 February 2022. 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 27, 2022 · New York CNN Business —. BP (BP) is cutting ties with Rosneft in response to Russia’s invasion of Ukraine. The British company said in a statement Sunday that it would exit its 19.75% stake in ...
Feb 27, 2022 · BP said the changes in the accounting treatment of the Rosneft stake would lead to two “material non-cash” charges in its first-quarter results that could amount to as much as $25bn: an $11bn ...
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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. London-based BP also said its CEO, Bernard Looney, and former BP executive Bob Dudley will immediately ...
