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Being the biggest oil company in Russia, Rosneft is also the largest publicly traded company in the world based on its hydrocarbon production volume. BP holds a 19.75 % share in Rosneft which makes it a beneficiary to a broad range of existing and future projects in Russia, a country that has huge hydrocarbon resources.
Lukoil PJSC and Rosneft PJSC, the countryâs largest oil producers, were among the biggest advancers on the 50-stock gauge as Brent crude climbed for a third day, set for the highest price since July 12.