MARKETS

BP pulls $25B Rosneft stake 

BP has pulled its 20% investment in Rosneft just four days into the Russian invasion of Ukraine, arguing it is the "right thing to do" and damning what CEO Bernard Looney calls "an act of aggression which is having tragic consequences for the region".

CEO Bernard Looney

CEO Bernard Looney

    All up, it may take a hit of US$20-$25 billion.    It will leave its shareholding in the Russian company and other businesses with Rosneft in Russia, and both Looney and his predecessor Bob...

Start a free trial to continue reading this article
Already have an account?  
Subscribe now

A growing series of reports, each focused on a key discussion point for the energy sector, brought to you by the Energy News Bulletin Intelligence team.

A growing series of reports, each focused on a key discussion point for the energy sector, brought to you by the Energy News Bulletin Intelligence team.

editions

ENB Cost Report 2023

ENB’s latest Cost Report findings provide optimism as investments in oil and gas, as well as new energy rise.

editions

ENB Future of Energy Report 2023

ENB’s inaugural Future of Energy Report details the industry outlook on the medium-to-long-term future for the sector in the Asia Pacific region.

editions

ENB Cost Report 2021

This industry-wide report aims to understand current cost levels across the energy industry

editions

ENB Social Licence Report 2021

In its second year, this research now includes trends and new findings surrounding impacts and responses as the energy industry seeks to secure and maintain a social licence to operate.