Petroleum and natural gas are a huge industry BPMonday’s statement by the Russian Embassy in Kiev stated that Ukraine is not at risk of being invaded by Russia.

At an exhibition of oil and gas in Cairo, Egypt Bernard Looney, CEO, stated that the company is continuing to do business in Russia even though the Kremlin has amassed more than 130,000 soldiers along the Ukraine border.

Russia’s increased military presence raises suspicions that Moscow could invade Ukraine to re-annex Crimea in 2014. Russia denied these claims.

Looney stated that “we, together with many of the peers, have a substantial presence in Russia” and said this to Hadley Gamble, CNBC, at EGYPS 2020.

Russia is The world’s largest producerThe U.S. holds the largest influence on global oil and gas supplies, especially in Europe,

Looney stated that he wouldn’t speculate about the future of Russia-Ukraine tensions growing, but would advise the company to make a decision if it escalates.

He stated, “We’re sticking to the business of business. Let’s wait and see what the future holds.”

He said, “If there is any consequence such as sanctions, or anything, we will comply fully with them,”

BP is Russia’s largest foreign investor, holding a 19.75% interest in the state oil company. Rosneft.

The CEO of BP has previously praised Russia for its resolve in important issues.

Looney suggested Monday, “When people have an agenda, it tends to get things done.”

Rosneft’s environment agenda was a topic he mentioned. He said Russia had Russia’s support to help it achieve its goals. net-zero emissions by 2050.

They have an extremely clear climate and an emissions plan. It is something they are committed to.”