LONDON (Alliance News) - BP has reassured shareholders it will not be pushed out of Russia and will keep its 20% stake in the country's largest oil company despite rising tensions over Ukraine, The Guardian reports Friday from the company's annual general meeting.
However, the oil and gas group faced a rebellion closer to home when more than 30% of its investors failed to back its executive pay report at its annual general meeting, the paper says.
The oil company avoided a bigger revolt after one large shareholder, Standard Life, decided to support the remuneration report for the first time in several years, The Guardian added.
http://www.theguardian.com/business/2014/apr/10/bp-investors-business-russia
By Steve McGrath; stevemcgrath@alliancenews.com; @stevemcgrath1
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