UK supermajor BP has posted a $20.4 billion loss attributable to shareholders for the first quarter of 2022, primarily due to the company’s decision to exit its shareholding in Russia’s Rosneft after Russia invaded Ukraine in February.

The figure compared to net profit of $4.7 billion for the fourth quarter of 2021 and $2.3 billion for the final quarter of 2021.

Pre-tax charges included $24 billion and $1.5 billion as a result of pulling out of Russia, including a decision to exit a 19.75%