21st Dec 2020 11:36
BP PLC - London-based oil major - Rosneft Oil Co, in which BP holds a 20% stake, says it expects to deliver on the key operational and financial indicators in its 2020 business plan, based on its actual results for the first nine months of the year and forecast for the fourth quarter. Rosneft says it was able to execute its strategy despite the crude oil production cuts that were put in place in 2020 as part of the OPEC+ agreement that included Russia. The comment comes as Rosneft says its board of directors last week approved the business plan for 2021 and 2022. This includes steps to secure 100% replacement of Rosneft's resource base. The plan also seeks to maintain the potential to ramp up production at brownfield sites.
Current BP stock price: 256.45 pence
Year-to-date change: down 46%
By Tom Waite; [email protected]
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