BP’s group profit fell 24% in first quarter but firm increased its dividend and pledged to return more cash to shareholders
The fallout from the Ukraine crisis has hit BP after the plunge in the value of the rouble knocked back underlying profits from the oil group’s stake in Russia’s Rosneft by 75%.
BP’s partnership with the Russian state-controlled oil company was in the spotlight after the US government added Rosneft’s chairman, Igor Sechin, to its sanctions list this week.