HOUSTON (Sputnik) — World's leading oil and gas company British Petroleum (BP) does not rule out additional investment in the Russian energy sector, BP Group CEO Robert Dudley said at an international energy conference in Houston, Texas on Tuesday.
"I would not rule out additional investment by BP in Russia," Dudley said, adding that the company, however, will not do anything that violates sanctions in place against Russia.
"It has been a great place to do business," he said. "We have had ups and downs [in Russia]…Our relationships are good there."
In March 2014, the United States and its allies imposed sanctions on the Russian energy sector over Moscow's alleged involvement in the Ukrainian crisis. The restrictions targeted Rosneft and its affiliates, among other Russia-based companies, and prevented them from raising capital overseas.
Legendary US investor Jim Rogers told Sputnik earlier in April that Russia is an attractive market for investment due to its low debt and large reserves as well as Kremlin gaining integrity and encouraging foreign investment.