The Russian Government Is About To Take A Big Stake In BP, And The Stock Is Spiking

The Russian government plans to expand its tentacles in the energy industry.

According to Sky News, it plans to take a “significant stake” in BP, the battered down energy giant.

Shares of BP just spiked on the news.

The company is holding a big press conference this evening, and it had previously not been clear what it was about… Now we know.

It’s currently up over 2.2%.