BP to break from Rosneft, will exit its nearly 20 % stake

BP says it will exit its 19.75 % shareholding in Rosneft (OTCPK:RNFTF), and CEO Bernard Looney and former CEO Bob Dudley will resign from the Russian oil company's board.

  • "Like so many, I have been deeply shocked and saddened by the situation unfolding in Ukraine," Looney said. "It has caused us to fundamentally rethink BP 's position with Rosneft ."
  • BP says the moves will result in a charge on Q1 results, representing the difference between the fair value of its Rosneft shareholding at the end of Q1 and the carrying value of the asset; the company says the carrying value at the end of 2021 was ~$14B.
  • The company also expects the changes will cause a charge related to foreign exchange losses accumulated since 2013 that previously were recorded directly in equity rather than the income statement; this total was ~$11B at the end of 2021.
  • BP has been viewed as the oil and gas major most exposed to the Russia-Ukraine crisis, and the U.K. government reportedly was pressuring the company to unload its Rosneft holdings following Russia's invasion.

    Over the current book year the total revenue will be 266.12 billion GBp (consensus estimates). This is quite more than 2021's revenue of 157.74 billion GBp.

    Historical revenues and results BP plus estimates 2021

    financiële analyse

    The analysts expect for 2021 a net profit of 17.12 billion GBp. The majority of the analysts expects for this year a profit per share of 90 GBp. The PE-ratio therefore is 4.35.

    Huge dividend BP

    Per share the analysts anticipate on a dividend of 23 GBp per share. Thus the dividend yield equals 5.87 percent. The average dividend yield of the oil & gas producers equals an attractive2.91 percent.

    BP 's market capitalization is based on the number of outstanding shares around 7933.64 billion GBp. 35

    At 16.29 the stock trades 4.78 percent higher at 391.55 GBp.

    Historical stock prices BP period 2007-2021

    stock bp

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