27 Feb 2022 21:15

BP to sell 19.75% stake in Rosneft, to quit other JVs with Rosneft in Russia

MOSCOW. Feb 27 (Interfax) - The BP board of directors has announced that it will withdraw from the equity capital of the Russian company Rosneft, BP, which has owned a 19.75% stake in Rosneft since 2013, said in a statement.

Furthermore, BP CEO Bernard Looney is leaving the Rosneft board of directors with immediate effect. Another Rosneft director appointed by BP, former BP Group chief executive Bob Dudley, will quit the Russian company's board of directors as well.

BP will also withdraw from its other joint ventures (JV) with Rosneft in Russia, according to the statement.