BP slides over Russia exit as London markets fall again

The Independent says BP shares dropped sharply as the markets opened lower again in London while oil prices surged.

The oil giant dropped by as much as 7% at the start of trading on Monday following its decision to sell its near 20% stake in Russian oil business Rosneft.

BP will sell its 14 billion dollar (£10.4 billion) stake in the oil producer it co-owns with the Kremlin after facing pressure from the Government, the company confirmed on Sunday afternoon.

The oil firm’s chief executive Bernard Looney is also resigning from the Rosneft board with “immediate effect”.

https://www.independent.co.uk/news/uk/russia-london-vladimir-putin-ukraine-government-b2024720.htm

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