BP share price drops after strong start

Billy Ehrenberg
Follow Billy
BP's share price has dropped after a strong start (Source: Getty)

Despite beating earnings expectations, BP has seen its share price slide this morning; possibly due to fears it is exposed to the fallout from the Yukos case.

Russia has been ordered to pay $50bn (£29bn) to shareholders of the now defunct company after the Kremlin seized and broke up the company dishing out its assets.

BP has a 19.8 per cent stake in Rosneft, a Russian energy firm that could be targeted through its stake in Ruhr Oel, a German company that owns oil refineries.

Russia has indicated a desire to fight the decision but will come under increasing pressure to pay.

BP's share price initially rose from 496.4 pence to 501.9 pence but had fallen 1.6 per cent to 488.85 pence at pixel time.

Related articles