BP looks east for potential buyers of Rosneft stake

The British oil company has hit a snag in trying to get rid of its Russian assets, reports Energy Voice.
Photo: BP
Photo: BP

It struck a chord when oil supermajor BP reacted promptly to Russia’s invasion of Ukraine by stating clearly that the company no longer plans to operate in Russia and would divest a 19.75-percent ownership stake in Russian oil company Rosneft as quickly as possible.

Since then, the British outfit has been on the lookout for potential buyers. According to British media Energy Voice, the company has sent inquiries to Chinese companies China National Petroleum Corp and Sinopec Group.

BP has reportedly also asked Indian players such as Oil & Natural Gas Corp and Indian Oil Corp whether they might be interested in any of BP’s other Russian oil and gas projects. However, Energy Voice reports that interest has been negligible.

BP has already clearly stated that the company could end up losing USD 25bn as a result of the decision to exit Russia.

BP divests stake in Rosneft

Shell also pulls out of Russia

ExxonMobil exits Russia

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