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BP shares slide 7% after plans to quit Russia

Rosneft accounts for around half of BP's oil and gas reserves and a third of its production
Last Updated 28 February 2022, 09:23 IST

Shares in BP fell nearly 7 per cent on Monday after the energy major revealed plans to sell its nearly 20 per cent stake in Russian oil giant Rosneft following Moscow's invasion of Ukraine.

Rosneft accounts for around half of BP's oil and gas reserves and a third of its production. A sale of the 19.75 per cent stake will result in charges of up to $25 billion, BP said on Sunday.

BP shares were down 6.7 per cent at 352.50 pence on the London Stock Exchange by 0807 GMT.

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(Published 28 February 2022, 09:23 IST)

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