Oil Companies, , Including Shell and BP, , Abandon Russia.
CNN reports that Shell announced it would
abandon its joint ventures with Gazprom,
including its role in the Nord Stream 2 pipeline. .
CNN reports that Shell announced it would
abandon its joint ventures with Gazprom,
including its role in the Nord Stream 2 pipeline. .
We are shocked by the loss of life
in Ukraine, which we deplore,
resulting from a senseless act
of military aggression which
threatens European security, Ben van Beurden, Shell (RDSA) CEO, via CNN.
The announcement by Shell comes one day
after BP similarly announced that it would be
ending its investment in Russia's Rosneft. .
The announcement by Shell comes one day
after BP similarly announced that it would be
ending its investment in Russia's Rosneft. .
According to analysts, the decision
could cost BP over $26 billion. .
Shell's interests in Russia were
reportedly valued at $3 billion. .
Our decision to exit is one we
take with conviction. We cannot —
and we will not — stand by, Ben van Beurden, Shell (RDSA) CEO, via CNN.
CNN reports that Shell was also providing
50% of the financing for the construction
of Gazprom's Nord Stream 2 pipeline. .
CNN reports that Shell was also providing
50% of the financing for the construction
of Gazprom's Nord Stream 2 pipeline. .
Other international oil and gas companies
have taken similar action, including Norway's Equinor,
which will also exit their ventures with Russia. .
We are all deeply troubled
by the invasion of Ukraine,
which represents a terrible
setback for the world, Anders Opedal, president and CEO of Equinor, via CNN.
According to Equinor,
the company had $1.2 billion
invested in Russia at the end of 2021. .
CNN reports that France's TotalEnergies also condemned Russia's invasion of Ukraine and said that it would no longer invest in Russian projects.
CNN reports that France's TotalEnergies also condemned Russia's invasion of Ukraine and said that it would no longer invest in Russian projects