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BP does not consider increasing stake in Rosneft — BP’s vice-president

June 03, 2015, 13:24 UTC+3 LONDON

BP’s stake in Rosneft is slightly less than 20%

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LONDON, June 3. /TASS /. BP is not considering an option to increase its stake in Russian state-owned oil company Rosneft, BP’s vice president for Russia Peter Charow told TASS on Wednesday.

"At this point we are quite content with our shareholding at the current level, this is not what we are currently considering, but as I said we are open to deepen our in investment in Russia,"- Charow said.

BP’s stake in Rosneft is now slightly less than 20%.

Charow also said that BP is happy to work with the current partner, with Rosneft

"We are committed to this partnership, is a strategic partnership and we are working with them both inside Russia and we looking for opportunities outside Russia as well so I don't see any reason at this point the we would be looking partnership beyond Rosneft".

Speaking about the situation of the Russian market, BP vice president said that technical sanctions had not made a negative impact on the activities of Russian companies but financial restrictions turned out to be more painful.

He said that the decline in oil prices caused slowed down the development of BP business in Russia, adding that oil prices are more important to the company’s business than the Westerns actions against Russia.

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