In-depth talks between Rosneft senior executives and Chief executive officer of BP Bernard Looney and Chairman of the Board of BP Helge Lund took place on February 27. BP's leadership team informed us of the Board's decision on exiting Rosneft shareholding as well as shareholding in a number of other Russian projects. 

BP is subject to unprecedented pressure from both the regulator and its shareholders. BP's decision was preceded by a Western media campaign abound with false reports and conclusions. For instance, Rosneft's shipments for Russia's EMERCOM were presented as shipments for the Ministry of Defence of the Russian Federation. 

The decision of the largest minority shareholder of Rosneft undermines successful thirty-year partnership between the two companies aimed at serving the interests of shareholders, industry development, environmental protection and reduction of greenhouse gas emissions.

Taking into account a significant role of Rosneft for BP, including 640 million dollars of dividends in 2021, as well as the Company's reserves providing 47 per cent of BP's total reserves, one can conclude that the political situation was used to harm the British company and reduce its competitiveness. We are grateful to BP's leadership team and employees for thirty years of collaborative work. Rosneft is always open for cooperation.