BP - BP: Ignore Rosneft It Was Only Worth $3 Per Barrel

• After two turbulent years, sadly, 2022 has not provided a break following war erupting in Eastern Europe.
• This has sent long-lasting geopolitical shock waves across the world and seen companies rush to exit Russia, such as BP, whose Rosneft stake suddenly became toxic.
• Despite recently weighing down their share price, investors can ignore this noise because even a small $3 per barrel increase to oil prices should counteract their loss of Rosneft dividends.
• Given the prospects to lose 3,000mb/d of Russian oil production as sanctions clampdown, this seems extremely likely, and if anything, they are likely to actually benefit from higher oil prices.
• This stands to support their immense shareholder returns expected for 2022, and thus, it should not be a surprise that my buy rating is maintained.

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