BP faces delays in selling its stake in Rosneft

Due to sanctions and regulatory restrictions, British BP is still unable to sell its stake (19.75%) in Rosneft .
This was reported by the press service of the British company.

“BP continues to actively pursue the sale of its stake in Rosneft. The process is complicated both because of international sanctions and because of Russian legislation,” the report says.

The company clarified that “BP is actively engaged in the marketing of this asset”, however, due to restrictions in the legislation of the Russian Federation and sanctions, it has not yet been possible to sell the stake.

BP said that the company has not received any dividend payments from Rosneft since its decision in February to leave Russia, and does not expect these dividends at all.

The head of Rosneft, I. Sechin, said earlier that BP is still a "shadow shareholder."

The company does not take part in the work of management bodies, while retaining all rights and dividends.

He stated that dividends due to the British company for the 2nd half of 2021 in the amount of 700 million US dollars were transferred to its accounts.

And Rosneft even officially notified its shareholders of these payments in accordance with the law, but this is denied by BP.

The British company announced the decision to sell its stake in Rosneft in February after the outbreak of a military conflict in Ukraine.

In May, BP announced the amount of losses due to exit from Rosneft - $24.033 billion.

https://neftegaz.ru/news/companies/762302-bp-stolknulas-s-zaderzhkami-v-...