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.
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CNN reports that Shell announced it would abandon its joint ventures with Gazprom, including its role in the Nord Stream 2 pipeline.
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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.
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The announcement by Shell comes one day after BP similarly announced that it would be ending its investment in Russia's Rosneft.
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According to analysts, the decision could cost BP over $26 billion.
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Shell's interests in Russia were reportedly valued at $3 billion.
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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.
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CNN reports that Shell was also providing 50% of the financing for the construction of Gazprom's Nord Stream 2 pipeline.
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Other international oil and gas companies have taken similar action, including Norway's Equinor, which will also exit their ventures with Russia.
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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.
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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
