BP, which owns a near-20% stake in Russia's Rosneft, -2.5% premarket

|About: BP p.l.c. (BP)|By:, SA News Editor

BP, which still holds 19.75% of Rosneft (RNFTF) after selling it half of the TNK-BP venture last year, lost more than $1B on its investment overnight, highlighting how its relationship with Russia’s state oil company may become awkward as the crisis in Ukraine develops.

BP’s stake in Rosneft is the biggest single foreign investment in Russia’s oil industry and provides 30% of its production.

Royal Dutch Shell (RDS.A, RDS.B) also is likely to keep an eye on the Ukraine situation, since it owns 35% in the Skifska offshore oil block in the Black Sea to the west of Crimea.

BP -2.5% premarket.