Draw Media

The Russian company Rosneft, which works at 6 of the Kurdistan region's oil farms and owns 60 percent of the Kurdistan Region's oil pipeline, is accused of financing the cost of the Russian war in Ukraine.

The British Petroleum Company, a British group known as BP, announced its withdrawal from its 19.75% stake in the Russian company, Rosneft.

BP accuses Rosneft of financing the war: “Rosneft finances the cost of the Russian war in Ukraine, and as a protest against the war, we are pulling out of our partnership with this company."

Bernard Looney resigned from the board of Rosneft with immediate effect. “The Ukrainian war has led us to reconsider our work with Rosneft," (BP) chief executive officer Bernard Looney said in a statement.

The decision of some global oil companies has shown an effect on Russia’s economy, particularly the Shell Company, which owns 27.5% of (Gazprom’s Sakhalin II), and Exon Mobil, which has been dealing with Russian companies belonging to the Rosneft Group for 25 years. Another company, Glinkur, owns 11 percent of the Russian energy company AN+, along with several other companies that work with Russia.

The Suspension of British BP with Russian Rosneft comes after the western allies-imposed sanctions on Russia over Russia's attack on Ukraine. Including the expulsion of some Russian banks into the Swift system of international financial exchange. This poses a major risk to the Russian company’s work.

Rosneft in The Kurdistan Region

The Russian company Rosneft owns 60% of the Kurdistan region's oil pipeline shares (the part of the pipeline that is inside the region's territory on Turkey’s border). In addition, the company is searching for oil in 6 Kurdistan fields, which are located on the Erbil-Duhok border, including:

• Bartla

• Zaweta

• Harir

• Bejil

• Qasrook

• Daratu