BP
Q1 2022 Earnings Call
May 03, 2022, 4:00 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Welcome to the BP presentation to the financial community webcast and conference call. I now hand over to Craig Marshall, head of investor relations.
Craig Marshall -- Head of Investor Relations
Good morning, everyone, and welcome to BP's first quarter 2022 results presentation. I'm here today with Bernard Looney, chief executive officer; and Murray Auchincloss, chief financial officer. Before we begin today, let me draw your attention to our cautionary statement. During today's presentation, we will make forward-looking statements, including those that refer to our estimates, plans and expectations.
Actual results and outcomes could differ materially due to the factors we note on this slide and in our U.K. and SEC filings. Please refer to our annual report, stock exchange announcement and SEC filings for more details. These documents are available on our website.
I'll now hand over to Bernard.
Bernard Looney -- Chief Executive Officer
Thanks, Craig. Hello, everyone, and thanks for joining us. As everyone is aware, we are reporting today against the backdrop of Russia's attack on Ukraine and the terrible consequences it is having for people in the country and in the region. At BP, we have been supporting the humanitarian response through a financial contribution to the relief efforts, matching of employee donations by the BP Foundation and paid leave for BP staff who wish to volunteer to support the relief effort.
And as we know, the war is also having an impact globally on energy markets and the cost of living, creating a terrible situation for many people around the world. We are looking at what we can do to provide support, while also remaining fully focused on the day job, which at its core is about keeping the energy flowing where it is needed. To that end, we are in close contact with governments in Europe, working hard to provide the energy that customers and economies need. On the 27th of February, we took the decision to exit our 19.75% shareholding in Rosneft.
In addition, we plan to exit all our other businesses in Russia. The board undertook a thorough process concluding that Russia's military action represented a fundamental change and that BP's involvement with Rosneft, a state-owned enterprise, simply could not continue. This decision impacts our people. Before the conflict, we had around 200 employees in Russia, the majority Russian nationals.