It seems like one issue after another for BP (BP). Ever since the Gulf oil spill disaster, the company has had uncertainty in payout looming over their heads, with another setback coming recently. Now, the conflict between Russia and Ukraine could prove to be another headwind for BP. BP owns 19.75% of Russian state oil company Rosneft (OTC:OCRNL), which is worth about $65 billion overall. With the Western world still uncertain how to approach the Russia-Ukraine conflict, there is a possibility that economic sanctions would be imposed on Russia, potentially harming Rosneft’s business, and consequently BP. In fact, a recent dip in Rosneft’s share price caused a loss of nearly $1B for BP overnight
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How could things possibly go wrong when sovereigns (like the State of Alaska) “partner” with energy producers (such as BP)?
This development in the Ukraine, I am sure, will have no impact on the brilliant strategic thinkers in the Alaska Legislature about to bring us the AKLNG project based mostly on hope