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Vladimir Putin received the Chief Executive Officer of the oil and gas transnational British Petroleum Company, Robert Dudley, at the Kremlin. They discussed the prospects for BP’s continuing operations in the Russian market.

Presidential Aide Yury Ushakov and Rosneft Chief Igor Sechin attended the meeting.

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Russian President Vladimir Putin: Mr Dudley,

I am delighted to see you; we have met on many occasions. ВР is a major investor in the Russian economy: over 17 billion dollars. You own over 19 percent of our largest oil and gas company Rosneft.

We regard you as a reliable strategic partner; we have always assisted you in doing business in Russia, and we will do so in the future.

I would like to discuss with you the possibilities and prospects for further cooperation, both in your joint projects with Rosneft and separately in the projects that you think are interesting, important and promising.

BP CEO Robert Dudley: Thank you very much Mr President.

It is good to see you again. And as you know we have been working and competing in the Russian market for more than 30 years. And we have had a strategic partnership with Rosneft now for more than five years and it has worked extremely well.

We have tremendous respect for the company and the results that it is providing not only to the country but to BP as a shareholder. I am sure, Mr President, you are aware of it from a perspective as a shareholder.

I have to say there have been remarkable results in 2018 in the efficiency of Rosneft, record production – 286 million tonnes, more than four times the cash flow from the years before, the technology that has been put in Rosneft has resulted in its largest profit ever. So, in addition to the other projects, we observe Rosneft's great success last year, and I also note that it is now one of top ten largest oil and gas companies in the world.

I would like to thank you for your support of the company and BP’s business over the years. It is very important for me to thank you from the perspective of BP.

Thank you.

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