FILE PHOTO: An illuminated BP logo is seen at a petrol station in Gateshead, Britain September 23, 2021 ...

BP (BP) is cutting ties with Rosneft in response to Russia’s invasion of Ukraine. The British company said in a statement Sunday that it would exit its 19.75% stake in the Russian state oil ...

Western energy companies have invested and operated in Russia for a long time – over 30 years for BP and more than 25 years for ExxonMobil. They are accustomed to managing international ...

And, possibly, a new best friend — Russia. A $16 billion deal gives the oil giant almost 10 percent of Kremlin-controlled Rosneft. Which in turn takes a 5 percent share in BP. Peter van Dyk ...

British Business Secretary Kwasi Kwarteng, who on Friday had expressed "concern" over BP's Rosneft, welcomed the decision. "Russia's unprovoked invasion of Ukraine must be a wake up call for ...