Rosneft allowed BP to pay $700 million in interim dividends

The Board of Directors of Rosneft will consider the issue of paying British BP an interim dividend of $700 million for the three quarters of 2022. This was announced by the representative of Rosneft TASS. BP will be able to use the received amount for joint projects with a Russian company. Earlier, the head of Rosneft, Igor Sechin, announced the payment of $700 million to the British company for the second half of 2021.

“BP can also send interim dividends for the development of promising projects in Russia for the first nine months of 2022, the payment of which will be considered by the Rosneft Board of Directors in November. In accordance with the company’s dividend policy, at least 50% of IFRS net profit can be allocated for these purposes. Thus, BP can increase its income from the Russian business by about another $700 million,” said a representative of the Russian organization.

According to the source, BP remains a shareholder of the Russian company and a participant in joint ventures in Russia. October 27, Mr. Sechin spokethat BP is a shadow shareholder who does not participate in the work of the company’s management bodies. At the end of February, British BP announced that it was pulling out of three joint ventures with Rosneft.

Read more in the material “Kommersant” “Rosneft has found those responsible for the energy crisis”.

Polina Sobakina