BP CEO Doesn't See Adverse Effect From U.S. Russia Sanctions Bill
August 01 2017 - 6:06AM
Dow Jones News
By Michael Amon
LONDON--BP PLC (BP.LN) Chief Executive Bob Dudley said the
Russia sanctions bill recently passed by Congress shouldn't affect
the British oil company's work with Russian state-owned energy
giant, Rosneft PAO.
"We're not aware of any adverse effect," Mr. Dudley told
analysts on a conference call about BP's earnings on Tuesday.
Mr. Dudley said an earlier version of the sanctions bill was
"full of unintended consequences" that could have affected BP's
operations in Azerbaijan and even in Egypt.
The new version of the sanctions--passed in response to alleged
Russian interference in the U.S. election--targeted Russian energy
operations, among other things. The European Union had raised
objections to the sanctions, saying they could affect European oil
companies' work with Russian companies.
The sanctions bill is expected to be signed into law by U.S.
President Donald Trump.
BP owns nearly 20% of Rosneft, a company with a chairman, Igor
Sechin, that has been the target of previous American and European
sanctions.
-Write to Michael Amon at michael.amon@wsj.com
(END) Dow Jones Newswires
August 01, 2017 05:51 ET (09:51 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
BP (NYSE:BP)
Historical Stock Chart
From Mar 2024 to Apr 2024
BP (NYSE:BP)
Historical Stock Chart
From Apr 2023 to Apr 2024
