The bp board announced that bp will exit its shareholding in Rosneft. bp has held a 19.75% shareholding in Rosneft since 2013.

Equinor's (OSE: EQNR, NYSE: EQNR) Board of Directors has decided to stop new investments into Russia, and to start the process of exiting Equinor’s Russian Joint Ventures.

During the visit of the delegation headed by the President of the Russian Federation Vladimir Putin to Beijing (PRC), negotiations were held between PJSC Rosneft Oil Company and China National Petroleum Corporation (CNPC) and the Agreement was signed on the supply of 100 million tons of oil to China through Kazakhstan for 10 years.

Under Russian law, Gazprom is the only company currently permitted to export pipeline gas, but the government has been examining Rosneft's proposal, with a decision expected by March next year.

Rosneft and gas giant Gazprom were tasked with coming to an agreement on the implementation of a "pilot" project under which Rosneft would supply 10 Bcm of Russian gas to Europe.

Rosneft exercised the pre-emption right for 37.5% share of the PCK (Schwedt) refinery from Shell.

Though Russia suffered a relatively modest recession amid the pandemic last year, the recovery is expected to be sluggish and a jolt of state spending could help accelerate it. Russia has invested billions from the fund in the past in projects linked to big state companies.

Moscow sees global oil supply in a deficit of 1 million-2 million b/d at the moment, as the world economy continues to recover driving oil demand up by 5.5 million b/d this year.

Net income in 4Q 2020 reached a record of RUB 324 bln and amounted to RUB 147 bln in 2020.

Brent was up $1.02, or 1.6%, at $63.45 a barrel . WTI gained $1.28, or 2.2%, to $60.75 a barrel.