Is Rosneft owned by BP?
LONDON, Feb 27 (Reuters) – 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.
When did BP partner with Rosneft?
In October 2012 BP and Rosneft announced agreement in principle for the sale and purchase of BP’s 50 per cent interest in TNK-BP for $17.12 billion in cash and 12.84 per cent of Rosneft shares.
What is BP stake in 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.
Who owns Rosneft oil company?
Rosneft
| Rosneft Headquarters, Sofiyskaya Embankment, Moscow, September 2005 | |
|---|---|
| Total assets | $228 billion (2021) |
| Total equity | $90 billion (2021) |
| Owner | Rosneftegaz + subsidiaries (50%) BP (19.75%) Moscow Exchange (10.70%) QIA (18.46%) (2021) |
| Number of employees | 334,600 (2019) |
Is BP owned by Russia?
Russia owns 40% of BP’s Russian partner, Rosneft; the company’s CEO and board chair, Igor Sechin, is Russia’s former deputy prime minister and a close Putin ally. Shell’s primary partner in Russia is Gazprom, the state-run natural gas giant.
What does BP own in Russia?
Rosneft
In response to Russia’s invasion of Ukraine, British energy giant BP announced on Feb. 27, 2022, that it will sell its nearly 20% ownership in Russian state-owned energy giant Rosneft.
Is Russia part of OPEC?
As the second-largest producer and exporter of petroleum in the world, Russia has considerable weight in exercising its control over the international oil market. However, it remains a nonmember of the Organization of Petroleum Exporting Countries (OPEC), which is the dominant player in the global market.