Bp Stock News

Monday afternoon''s top analyst upgrades and downgrades included American Electric, BP, Dollar Tree, Gilead, Lockheed Martin and more.

LONDON: British energy giant BP announced on Sunday (Monday in Manila) it was pulling its 19.75-percent stake in Rosneft following Russia''s invasion of Ukraine. BP''s chief executive Bernard Looney also announced that he was resigning from the Russian oil company''s board "with immediate effect." Looney was one of two BP-nominated directors, having held the position since 2020. The other is former BP chief executive officer Bob Dudley, who has also resigned, said BP. "Russia''s attack on Ukraine is an act of aggression which is having tragic consequences across the region," said the company''s chairman, Helge Lund. "BP has operated in Russia for over 30 years, working with brilliant Russian colleagues," he added. "However, this military action represents a fundamental change." The announcement came as the European Union applied fresh sanctions against Russia, closing its airspace, banning its state media outlets and restricting its access to the international finance network. Kwasi Kwarteng, Britain''s business minister, welcomed the announcement. "Russia''s unprovoked invasion of Ukraine must be a wake-up call for British businesses with commercial interests in Putin''s Russia," he tweeted. "The decision to exit the Rosneft stake will be an eye-wateringly expensive one for BP," wrote Susannah Streeter, a senior analyst with Hargreaves Lansdown. "But the shocked board clearly felt they had no option but to pay the high price and distance the business from Russia''s aggression." Just two weeks ago, Looney had said that BP''s share in Rosneft remained a core part of its operation, she noted.

NEW YORK , Feb. 28, 2022 /PRNewswire/ -- InvestorsObserver issues critical PriceWatch Alerts for BP, ZOM, NIO, VEON, and AUPH. … Full story available on Benzinga.com

https://www.investing.com/news/commodities-news/russian-oil-buyers-struggle-with-payments-and-vessels-bp-annuls-loadings-traders-2774103

Buyers of Russian oil have faced difficulties over payments and availability of vessels after imposition of Western sanctions against Moscow over Ukraine, traders said on Monday, while BP Plc has cancelled fuel oil loadings from a Black Sea port.

BP is pulling its $14 billion stake from Russian oil giant Rosneft, "one of the most significant Western investments in Russia…"

Citing Russia’s invasion of Ukraine, British energy giant BP plc said Sunday it would unload its stake in Russian government-controlled oil company

Rabobank: If Putin Has Lost, So Have Markets By Michael Every of Rabobank The fight is here: I need ammo, not a ride This will be a longer than normal Daily: we live in extraordinary times and a few extra paragraphs are needed to cover it. However, let’s start with the key point: Vladimir Putin has lost this war – and so have markets. The greatest risks lie in how much damage he is prepared to inflict on to attempt to deny that fact. The ferocity of Ukrainian resistance is the polar opposite of the collapse of the Afghan government , which exited in jets filled with US cash. On Friday, as Bloomberg was reporting Kyiv would fall in hours, the US offered President Zelenskiy an airlift out. His response: “The fight is here: I need ammo, not a ride.” He is prepared to die for his cause, in contrast to leaders who won''t even risk a bad opinion poll. Zelenskiy’s people have rallied to him - as will a new foreign legion of volunteers from abroad. One Twitter meme doing the rounds is that “ Kyiv is willing to consider NATO membership of Ukraine .” Any dreams Putin had of imposing a puppet regime, or of carving up and holding Ukraine, have been shattered by cries of “ Slava Ukraini! ” (Glory to Ukraine!).

BP will sell its close to 20-percent stake in Russian oil giant Rosneft, the supermajor said yesterday amid growing pressure from politicians for companies with Russian operations to leave the country. Besides the sale, BP’s chief executive Bernard Looney and former chief executive Bob Dudley will resign from Rosneft’s board of directors. The report on the news also said BP expects to book a one-time impairment charge on its Rosneft exit, to be reported in May. In addition to the Rosneft stake, BP will also leave three joint ventures…

Shell is getting out of Russia and ditching its joint ventures with Gazprom, including its involvement with the moribund Nord Stream 2 natural gas pipeline.

Chevron, BP and Exxon are among the energy companies in focus this morning.

Here''s a wrap-up of recent news from Ukraine.

Stocks are wavering, to mostly down, in the U.S. as investors grapple with rising uncertainty in global stability and interest rates

https://www.investing.com/news/stock-market-news/bp-cancels-fuel-oil-loadings-from-russian-black-sea-port-sources-2773995

Investors in Russia are facing a mark-to-no-market problem. The rouble tanked and the country’s stock exchange did not open after the West cranked up sanctions against President Vladimir Putin. Even when trading resumes, foreign money managers and companies face the prospect of writing off their investments in the country, as oil giant BP did.