The political risk of the Ukrainian war for the global fuel market: the case of British Petroleum in Russia
Journal: Cadernos EBAPE BR
Year: 2023

Abstract In February 2022, Russia invaded the eastern territories of Ukraine. Three days after the invasion, pressured by public opinion and the British government, British Petroleum (BP) announced the abandonment of its almost 20% equity shareholding in Russian state-owned Rosneft at an estimated cost of USD 25 billion for the company. The case puts the reader in the position of CEO Bernard Looney to reflect on the redesign of the company’s strategy with regard to assessing the impact of politi