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Rosneft says BP remains ‘shadow’ shareholder

BP holds a 19.75% stake in Rosneft, and in February the multinational said it would divest it

BAKU, October 27. /TASS/. British multinational BP remains Rosneft’s shareholder, with $700 mln worth of dividends for 2H 2021 transferred to the company’s account, Chief Executive Officer of Russia’s oil major Igor Sechin said at the 15th Verona Eurasian Economic Forum in Baku on Thursday.

"Despite the high-profile declarations made on February 27 by BP’s board of directors about the decision to divest from Rosneft, the company has not complied with that resolution. And despite all the rhetoric, it still remains a ‘shadow’ shareholder, not participating in the work of the company’s management bodies, maintaining all rights and corresponding dividends. I would like to take the opportunity to notify our friends from BP that their dividends for 2H 2021 in the amount of $700 mln have been transferred to accounts that have been opened for them," he disclosed.

"Let me mention that BP’s revenues from participating in the share capital and joint ventures with Rosneft have already reached $37 bln with the total investment of around $10 bln. I believe this is excellent compensation for the capital invested," Sechin added.

BP holds a 19.75% stake in Rosneft, and in February the multinational said it would divest it.

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