BP sticks with Russian business, CEO Looney says

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A 3D printed windmill and oil pump jack are seen in front of displayed BP (British Petroleum) logo in this illustration picture, August 11, 2021. REUTERS/Dado Ruvic

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CAIRO, Feb 14 (Reuters) - BP is sticking with its Russian oil and gas business, which has so far been unaffectd by simmering tensions between Russia and the West, Chief Executive Bernard Looney said on Monday.

BP is the largest foreign investor in Russia with a 19.75% stake in the country's national oil company Rosneft (ROSN.MM). It also holds stake in several other oil and gas projects in the country.

"Quite frankly, there is no impact on our ongoing operations in Russia and we are sticking to the business," Looney said at a conference in Cairo.

He added that BP will comply with any western sanctions on Moscow.

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Reporting by Maha El Dahan and Nafisa Eltahir Writing by Ron Bousso Editing by David Goodman

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