BP announced it will be offloading its 19.75 percent stake in the Rosneft oil firm, which it has held since 2013. BP Chief Executive Officer Bernard Looney will also be resigning from the board of directors as will former BP chief executive Bob Dudley. Looney said in a statement that he was’shocked and saddened by the situation unfolding in Ukraine. The BBC, citing a U.K. government official, reported, British Business Secretary Kwasi Kwarteng had spoken to Looney last week and left ‘no doubt’ about the seriousness of government concerns about BP’s overexposure to Russian interests. The decision was made by BP Chair Helge Lund, who said it is ‘in the best long-term interests of all our shareholders’ . . .
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