Putin’s Gift To Exxon

When Russia invaded Ukraine nearly a year ago, few people would have imagined that the disruption of oil and gas supplies would push the fossil fuel sector to historical highs. In fact, shareholders were more concerned about the hefty charges and writedowns that multinational oil and gas companies might be forced to take on their Russian investments. And, their worst fears came true soon enough.  On February 27, 2022, just days after Russia invaded Ukraine, British energy giant BP Plc. (NYSE: BP) announced that it would exit its 19.75% shareholding…