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U.K. Government Summoned BP’s CEO to Explain Rosneft Links

  • Kwasi Kwarteng is said to be uneasy about BP’s Russian ties
  • BP holds a roughly 20% stake in Russia’s biggest oil producer
Bernard Looney
Bernard LooneyPhotographer: Hollie Adams/Bloomberg

The U.K. business secretary summoned BP Plc Chief Executive Officer Bernard Looney to an emergency meeting on Friday to explain the British energy giant’s relationship with Russia’s largest oil producer.   

Kwasi Kwarteng is uneasy about BP’s ties to Rosneft PJSC and sought a detailed briefing on its exposure to Russia and its future plans, according to an official familiar with the matter, who spoke anonymously about a private meeting. When the discussion concluded, Looney was left in no doubt about the strength of the government’s concerns, the person said. The talks were first reported by the Financial Times.