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The Latest Breaking News from Rosneft

Morning Brief: Top Financial Stories Dominating on Wednesday, May 18

CNBC Toyota Looks To Develop Hydrogen Mobility In Europe

Benzinga

JPMorgan No More A Depositary For Russia-Based Rosneft's GDRs

JPMorgan & Chase (NYSE:JPM) has resigned as a depositary of global depositary receipts (GDR) of Russia's largest oil producer Rosneft (OTC:RNFTF), Reuters reported. Last month, JPMorgan & Chase started to allow holders of depositary receipts in Russian companies to cancel them, two sources familiar with the matter said, giving some investors a way to…

Benzinga

‘Straw owner’ hides $1 billion worth of Russian yachts, US says

In the race to seize assets tied to sanctioned Russian billionaires, U.S. authorities are alleging that a Russian tycoon acted as the “straw owner” of two yachts worth more than $1 billion, including the $700 million Scheherazade, a superyacht linked to Russian President Vladimir Putin.

Tribune News Service

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Russian minister imprisoned for oil-related bribery released

The highest-ranking Russian official to go to prison in nearly two decades has been released after serving more than half of an eight-year sentence for bribery

The Independent UK

Windfall tax wouldn’t stop BP’s £18bn parade of projects

Neither would it make the energy crisis go away, but after a while it becomes hard to resist

The Guardian - UK

BP Shares Move Higher On Bumper Q1 Profits Of $6.2B, Announces $2.5B Share Buyback

BP plc’s (NYSE:BP) profits more than doubled to $6.2 billion in Q1, helped by soaring oil and gas prices, despite posting a massive loss after offloading its nearly 20% stake in a Russian-controlled oil company Rosneft (OTC: RNFTF). The company reported Q1 adjusted EPS of $1.92, more than double from $0.78 posted a year ago…

Benzinga

BP profits skyrocket amid demands for windfall tax to tackle cost of living

BP has notched up its highest quarterly underlying profits for more than a decade thanks to rocketing oil and gas prices as calls grow for a…

The National (Scotland)

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BP promises to ‘back Britain’ with £18 billion as profits hit highest since 2008

The oil giant made an underlying profit of $6.2 billion in the first three months of the year, far higher than the City was expecting

Evening Standard

UK factories raise prices at record pace; windfall tax calls grows as BP earnings swell – as it happened

Rolling coverage of the latest economic and financial news

The Guardian - UK

BP profits double to $6.2bn, fuelling calls for energy windfall tax

Results are ‘obscene’, say unions, after soaring oil and gas prices help company to beat forecasts

The Guardian - UK

BP’s £5bn profit triggers fresh calls for energy windfall tax

BP posted its best quarterly earnings in more than a decade as the government comes under pressure to do more to ease the cost of living crisis

Evening Standard

Oil Stocks Shell, ConocoPhillips Fall Despite Earnings Beat As OPEC Sticks To Modest Output Increase

Shell and ConocoPhillips topped expectations as OPEC sticks to modest output increase.

Investors Business Daily

High energy prices leave oil giants untroubled by Russia exit or tax hints

BP and Shell are expected to report increased profits this week despite taking a big hit from the war in Ukraine

The Guardian - UK

Russian ex-minister jailed for bribery granted parole

Russia’s former economic development minister sentenced for eight years on bribery charges has been granted parole

The Independent UK

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The Hindu

Govt asks state-run petroleum firms to consider buying Russian oil assets

The call on companies to explore buying the stake in Rosneft came after BP CEO Bernard Looney met Petroleum Minister Hardeep Singh Puri in March

The Independent UK

Putin’s lapdog wears Prada: Chechen leader Kadyrov poses on TikTok while his men kill civilians in Ukraine

Beyond the brutality and bloodshed associated with Chechnya’s militia, Ramzan Kadyrov is using Russia’s war and posturing on social media to boost his standing with Vladimir Putin, reports Borzou Daragahi

Reuters

In France, a seized superyacht creates headaches, not just for its owner

In a quiet corner of the French Riviera, La Ciotat Shipyards said it is writing bills for mooring fees for the towering white superyacht Amore Vero, but it doesn't know who to send them to.

Daily Mirror

Lithuania first country to stop using Russian gas in milestone anti-Ukraine war move

The Lithuanian Government announced that from the start of April the country has been operating without Russian gas before slamming the EU - which gets 40% of its crude from Gazprom - for failing to cut off its reliance on Russian energy

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France 24

Was this photo of Chechen leader Kadyrov praying in a petrol station taken in Ukraine?

A photo claiming to show the Head of the Chechen Republic Ramzan Kadyrov has made the rounds on social media and on international media outlets. In the photo, Kadyrov is said to be praying in a petrol station in Mariupol, the Ukrainian port city where Chechen fighters are currently helping…

The Independent UK

Live updates | Chinese diplomat suggests moves to end war

A Chinese diplomat has a suggestion for resolving the Ukraine conflict: U.S. President Joe Biden should call Russian President Vladimir Putin and promise there will be no further NATO expansion, no deployment of strategic weapons in Ukraine and that the country will remain neutral

Evening Standard

Russian stocks rally as Moscow Stock Exchange partially re-opens

Trading is only allowed for 33 key stocks on the Moex Russia Index

Reuters

Factbox-UK imposes new sanctions on Russian elites and businesses

Britain on Thursday imposed new sanctions on Russian elites and businesses, targeting strategic industries including a defence company that makes drones, major shipping group Sovcomflot and top lender Gazprombank.

The Independent UK

Russian stock market, crushed by war, will partially reopen

Russia plans to reopen its stock market for limited trading on Thursday, nearly one month after shares plunged and the exchange was shut down following the invasion of Ukraine

The Guardian - UK

Ex-minister who warned on sanctions works for oil trader linked to Russia

Alan Duncan’s employer Vitol has stake in vast Arctic exploration project backed by the Putin regime

Evening Standard

BP boss Bernard Looney sees pay nearly double to £4.5 million

The bumper pay out comes amid soaring oil and gas prices but BP insists the increased reward is not linked

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