Profit BP from Rosneft participation increased by 307 percent over the year, follows from the financial statements of the British company. According to the results of the 1st quarter, the share of BP in the net profit of Rosneft amounted to 451 million dollars, which is 53 percent higher than the previous quarter and four times higher than last year. In Rosneft BP belongs to 19.75 percent.
BP does not plan to reduce the share in the Russian company and intends to expand the number of joint projects, said the President of BP Russia David Campbell in the sidelines of the National Oil and Gas Forum in Moscow. “We are very pleased with our participation in Rosneft, we have cooperation in a variety of areas,” he said. According to Campbell, joint projects of companies can even expand, since Rosneft is very committed to a decrease in their carbon trace.
BP, due to participation in Rosneft, also could reflect in the reporting another positive moment for investors – the production of hydrocarbons in the amount of 1.05 million barrels of the oil equivalent per day. Thus, almost a third of the entire BP production (3.27 million barrels of the oil equivalent) obtained by Rosneft.
Chief Executive Officer BP Bernard Luni in March noted that BP has long, deep and strategic partnerships with Rosneft.
A positive example of cooperation between two companies noted Russian President at a meeting of the Board of Trustees of the Russian Geographical Society in April. “Your cooperation with Russian Rosneft is very successful, and the capitalization of your company, having in view of the reserves that grow, including in the territory of the Russian Federation, has positive values. For its part, we are satisfied as this cooperation is carried out,” -cased President, referring to the head of BP Bernardo Lunie.
BP is not only Rosneft’s largest minority shareholder, but also its partner for a number of significant intelligence projects, mining, processing and retail business. Russia is the only major country in which BP completely replaces the production of stocks.