Rosneft CEO says BP remains shareholder of Russian company

BENGALURU, Feb 6 (PRIME) -- British-Dutch oil giant BP is still a shareholder of Russian oil major Rosneft, and it revised value of its 19.75% stake in the company to U.S. $24 billion, Rosneft CEO Igor Sechin said on Monday during the India Energy Week.

“We found out with great interest that BP in its audited annual report … a company that is a shareholder of a 20% stake, recognized efficiency of Rosneft’s work, and revised value of the stake it owns in Rosneft to $24 billion. That means that BP is still with us, and I would like to use this opportunity to say hello to our friends and partners,” Sechin said.

“I would like to assure you that we will continue putting effort in justifying trust of our shareholders.”

In February 2022, BP decided to sell its 19.75% stake in Rosneft and to leave all joint ventures with the company as well as withdraw from its board of directors. Media reported that BP was looking for buyers of its Russian assets in Asia and the Middle East. In October, Sechin said that BP was still a Rosneft shareholder from the shadows because it did not partake in the company’s management, but retained all rights and dividends.

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