BP says Russia business unaffected by sanctions, stands solid with investments

BP CEO (BP -0.2%) Bob Dudley says western sanctions over Russia's actions in Ukraine have not impacted its business in Russia, and reiterates that it stands "rock solid" with its investments in the country.

Dudley is in Moscow to take part in a meeting of the Russian Geographical Society, where Dudley is a member of the board of trustees and Pres. Putin is the head, but it is not clear if the two will meet.

BP owns a 19.75% stake in Kremlin-controlled Rosneft (RNFTF), accounting for about one third of its total global oil output.

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Comments (3)
  • Chazuu
    , contributor
    Comments (310) | Send Message
    We hope for the best, but Dudley's public statement of confidence in the face of such unstable international conditions seems to me to reflect a large dose of wishful thinking.
    15 Apr 2014, 03:04 PM Reply Like
  • doc47
    , contributor
    Comments (1837) | Send Message
    And Dudley and his fellow executives have always had their fingers on the pulse of world politics and their relationship to BP in Russia, right????
    15 Apr 2014, 04:47 PM Reply Like
  • JamesJoyce
    , contributor
    Comments (156) | Send Message
    BP needs to know that any action taken against its interests by Russia, will be mitigated by UK / US authorities.
    16 Apr 2014, 01:55 AM Reply Like
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