BP Sells Rosneft Stake

BP will sell its close to 20-percent stake in Russian oil giant Rosneft, the supermajor said yesterday amid growing pressure from politicians for companies with Russian operations to leave the country. Besides the sale, BP’s chief executive Bernard Looney and former chief executive Bob Dudley will resign from Rosneft’s board of directors. The report on the news also said BP expects to book a one-time impairment charge on its Rosneft exit, to be reported in May. In addition to the Rosneft stake, BP will also leave three joint ventures…