| Europe's third largest oil company, BP plc, reported second-quarter 2014 results before the opening bell on July 29. The company missed our earnings estimate and warned of potential losses in its Russian business in the wake of tough sanctions imposed by the Western powers.
This is especially true as BP owns a nearly 20% stake in Russian oil giant Rosneft. The threat of more sanctions by the U.S. or European Union against Russia could worsen BP's relationship with Rosneft and hamper its production, reserves and reputation. Notably, Russian sanctions so far had no impact on the company's business but new measures could dilute its profits in the upcoming quarters..............................................Full Article: Source
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