BP said cooperation with Rosneft is not in the 'long-term interests' of shareholders.
Red Apple Group Chairman and CEO John Catsimatidis argues that Biden releasing oil from reserves is the ‘dumbest thing’ he’s ever heard.
BP, which has held a 19.75% stake in Rosneft since 2013, also said its chief executive, Bernard Looney, will resign from the Russian firm's board, effective immediately. Bob Dudley, a former BP executive, will also resign from Rosneft's board."I am convinced that the decisions we have taken as a board are not only the right thing to do, but are also in the long-term interests of bp," Looney said in a statement.
A general view shows an oil treatment plant in the Yarakta Oil Field, owned by Irkutsk Oil Company , in Irkutsk Region, Russia March 10, 2019. Picture taken March 10, 2019. REUTERS/Vasily Fedosenko
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