Is there room for #Rosneft within @BP?

BP's 19.75% equity stake in Rosneft is once again in the spotlight as the Ukraine crisis deepens. 

The UK major is the largest private shareholder in Russia’s state oil giant, with the stake accounting for BP's largest single asset. Rosneft contributes a third of BP’s group production and more than half of its oil reserves, underpinning the company’s claim to a low-cost oil portfolio. Rosneft’s oil and its plans to grow production don’t exactly jibe with BP's ambitious strategy to lower its emissions. And with geopolitical risk for Russian investments now rising, it begs the question: Is there room for Rosneft within BP? BP’s Rosneft stake added more than $2.4 billion in equity earnings and $640 million in dividends to the company’s pocket in 2021. With BP’s portfolio production set to decline and Rosneft’s on the rise, the importance of the Russian giant to BP’s total output looks destined to grow. Rosneft’s lifting costs of less than $3 per barrel are significantly lower than the BP average and among the lowest in the world.

See the whole article on Energy Intelligence here: 

BP-Rosneft Ties Draw Greater Scrutiny: BP's 19.75% equity stake in Russian oil giant Rosneft is once again in the spotlight as the Ukraine crisis deepens.