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BP does not intend to increase or reduce its stake in Rosneft — CEO

Acquisition of Russian oil producer Bashneft by Rosneft was good and the price paid by Rosneft was fair, according to BP CEO

© EPA/SERGEI ILNITSKY

GORKI, October 17. /TASS/. UK’s BP holding a stake of 19.75% in Russian oil major Rosneft has no intentions to either increase or reduce its stake, Chief Executive Officer of BP Robert Dudley said on Monday.

"We are very happy with the level of shares we have. We do not want to reduce it or increase it. It’s a very good and comfortable level," Dudley said.

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Dudley said he did not discuss the option of Rosneft’s buying back its shares from the government. At the same time, BP is not afraid of a potential change in its stake in such case. "No, I am not concerned about that," he said.

Acquisition of Russian oil producer Bashneft by Rosneft was good and the price paid by Rosneft was fair, Dudley said.

"I think this is a very good acquisition. I think it’s a very fair price for the acquisition," he added.

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Oil & Gas Rosneft BP

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