Feb 25, 2022
Ukraine conflict: BP under pressure to sell stake in Russian firm
Oil giant BP is under pressure from the UK government to offload its 20% stake in the Russian state-owned oil firm Rosneft, the BBC understands. Business Secretary Kwasi Kwarteng spoke to BP boss Bernard Looney on Friday following Russia's invasion of Ukraine. Following Russia's invasion of Ukraine on Thursday, oil prices surged past $100 a barrel to hit their highest level for more than seven years. Russia is the second biggest exporter of crude oil, and is also the world's largest natural gas exporter. Europe gets nearly a third of its oil and around 40% of its gas from Russia, much of it flowing through pipelines across Ukrainian territory.
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