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Dudley to stay on Rosneft’s board

The BP CEO revealed that he would work in the Oil and Gas Climate Initiative after he resigns as BP CEO

DAVOS /Switzerland/, January 22. /TASS/. Chief Executive Officer of the British oil and gas producer BP Bob Dudley will continue representing the interests of the company in the Board of Directors of Russia’s Rosneft, in which BP holds 19.75% of shares, after leaving it on March 31, 2020. That is important for keeping trust relations with Rosneft’s CEO Igor Sechin, Dudley said in an interview with TASS on the sidelines of the World Economic Forum in Davos.

"As you know, trust is really important in Russia. It takes a long time to build the trust and I think we have the trust; there is no reason why not to continue," he replied when asked whether that decision is connected with a special relationship with Igor Sechin.

He also described the reaction of Rosneft’s management to his decision to leave BP. "It was charming reaction, because Igor Ivanovich [Sechin] and the team said, 'why?' I think it just caught everyone a little bit by surprise," Dudley commented. "I explained to team in Rosneft and others that it is fine, it is a good thing, I am happy with it but I stay in Board," he added.

Dudley revealed that he would be working both in London and the US. "Well, after March I will continue on with Rosneft in the Board, continue in the industry someways, in the Climate Initiative [OGCI, headquartered in London, brings together major energy companies — TASS]. I will keep an office in London, I have a place in London and in the US," he said. Dudley added that he was going to treat his time "really carefully."

"For forty years I worked almost seven days per week, continuing as the CEO. I think it is time I ought to my family, to just spend a little time and carefully think of what I want and what I have to do. I am excited about it. I am very pleased with passing in BP, very smoothly, to a really good CEO and management," he explained.

Last year, Dudley announced his decision to leave BP in March 2020. However, he will remain in the Board of Directors of the Russian state oil company Rosneft. Dudley worked for BP for 40 years, including 10 years as CEO.