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I don't see how this hurts anyone except BP shareholders. It certainly doesn't hurt the Russsians in any way I can see. It seems to me that some Russian indivi
by arbuge 5y ago
I don't see how this hurts anyone except BP shareholders.
It certainly doesn't hurt the Russsians in any way I can see. It seems to me that some Russian individual or organization, perhaps the Russian government itself, will now just scoop up the stake in question on the cheap (or for free), at their expense.
- woodruffw 5y agoWe're not privy to the exact reasons for BP's decision, but one plausible explanation: if their internal risk analysis indicates that their share is going to become worthless, then it makes perfect sense for them to divest from it. The shareholders take a hit, but it's a small hit compared to having that money evaporate entirely. Besides, given the soaring price of oil, I'm sure they'll find a way to make that money back. I'm not exactly worried about BP's financial security or that of its shareholders.