Russian meddling could mean big headaches for some big oil companies

|By:, SA News Editor

BP and Chevron (CVX) rank among the biggest losers if Russia-Ukraine tension grows worse, with collateral damage in related corporate bond spreads, Gimme Credit bond analyst Philip Adams says.

BP, owner of 19.75% of Russian energy giant Rosneft, is the highest profile loser, according to Adams, and any sanctions that affect oil and gas flows to Europe or banking/capital flows, would "hit Rosneft and BP early and hard.”

CVX pipeline investments could be hurt, and it signed a 50-year deal to explore and develop oil and gas in western Ukraine; "a Russian takeover spikes that deal."

Halliburton (HAL), Baker Hughes (BHI) and Weatherford (WFT) all do business in Russia that could be prohibited if it is labeled a rogue nation.