In an exclusive interview with CNBC-TV18, Bernard Looney, CEO of BP said they are shocked by what is happening in Ukraine.
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He said within 96 hours of invasion, BP as a company made a decision to discontinue operations in Rosneft Russia as we thought it was not the right thing for our shareholders.
Looney said BP will be exiting its shareholding in Rosneft and exiting the joint venture.
Speaking on crude oil prices he said, "You can expect volatility over the short to medium term. There are many reasons for crude oil prices to remain strong over the coming months and possibly years."
Watch video for more.