Offshore

Russian exit costs BP USD 25bn

On underlying parameters, the UK oil outfit showed advances, but a hefty impairment related to the company’s decision to relinquish its stake in Russian oil outfit Rosneft leads to a massive loss of USD 20bn.
Photo: Ben Stansall/AFP / AFP
Photo: Ben Stansall/AFP / AFP
by VIKTOR BRANDT KÆRGAARD

On paper, 2022 should so far have been a prosperous time for any oil or gas company, as prices have skyrocketed. But as is often the case, reality looks quite different when all nuances are brought to the fore.

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