BP, a major British oil company, posted a huge loss of more than 3 trillion yen in Japanese yen as a cost associated with withdrawal from Russia in the settlement of accounts from January to March.
While there are a series of movements among companies in each country to review their businesses in Russia, it is becoming clear that there is a heavy burden.
On the 3rd, BP announced its financial results from January to March, and the final profit and loss was 20,384 million dollars, which was a deficit of about 2.65 trillion yen in Japanese yen.
This is about 25.5 billion dollars in Japanese yen due to the review of the book valuation of the shares of Rosneft, a Russian state-owned oil giant scheduled to be sold, and the dissolution of the joint venture with Rosneft. This is because we recorded a huge loss of 3.3 trillion yen.
Profit excluding Russia-related losses is said to have been 6.2 billion dollars, or about 800 billion yen in Japanese yen, due to soaring crude oil and gas prices.
In February, BP announced that it would sell all of its approximately 20% stake in Rosneft and terminate its joint venture with Rosneft following Russia's invasion of Ukraine.
Companies in various countries such as Europe and the United States are moving to review their businesses in Russia one after another, but on the other hand, it is becoming clear that the review also entails a heavy burden.