BP released a statement on Sunday, saying it has held a nearly 20% shareholding since 2013. Both of the company’s nominated directors, including CEO Bernard Looney, will immediately resign from the Rosneft board and BP “will no longer report reserves, production or profit for Rosneft.”
Company chair Helge Lund said in the statement, “bp has operated in Russia for over 30 years, working with brilliant Russian colleagues. However, this military action represents a fundamental change. It has led the bp board to conclude, after a thorough process, that our involvement with Rosneft, a state-owned enterprise, simply cannot continue.”
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BP Exiting Nearly 20% Stake in Russian Oil Giant Rosneft Over Ukraine InvasionBP says it’s exiting its share in Rosneft, a state-owned Russian oil and gas company in reaction to Russia’s invasion of Ukraine. Check out my Gig on Fiverr: give online coloring pages for kids and adults
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BP Offloads Its Nearly 20% Stake in Russia's RosneftThe British oil giant held 20% of interest in the company. bp_America exxonmobil Shell NBCNews ABC FoxNews CBSNews Thank you BP for supporting human life and peace over profits. Now it's ExxonMobil and Shell's turn to show where they stand.
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