BP divesting stake in Russian oil giant over Ukraine invasion
| Multinational oil and gas company BP will be divesting its approximately 20 percent stake in a Russian state-owned oil firm due to Moscow’s “act of aggression in Ukraine.”
BP announced it will be offloading its 19.75 percent stake in the Rosneft oil firm, which it has held since 2013. BP Chief Executive Officer Bernard Looney will also be resigning from Rosneft’s board of directors as will former BP chief executive Bob Dudley, who was nominated to Rosneft’s board by BP. |
