Business Maverick: As BP and Shell Exit Russia, These Companies Still Have Ties

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Business Maverick: As BP and Shell Exit Russia, These Companies Still Have Ties
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The invasion of Ukraine has prompted oil giant BP Plc and Shell Plc to quit Russia in a historic move that will bring billions of dollars of impairments. Now the pressure is building on others to follow suit.

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Energy company Equinor ASA has also said it will start withdrawing from Russia, as sanctions ratchet up. Investors are wondering who could be next to dump assets.Here’s a list of some companies that have holdings or interests in Russia’s commodity and energy sectors:TotalEnergies SE has operations in Russia representing around $1.5 billion of its total cash flow, or around 5%.

It also has a stake in the Nord Stream gas pipeline from Russia to Germany, and provided a long-term loan to Nord Stream 2.Uniper SE owns an 83.7% majority stake in Russian utility Unipro, is among the financial backers of Nord Stream 2 and has substantial operations in Russia like its parent, Fortum.China National Petroleum Corp.’s PetroChina holds a 20% stake in Novatek’s Yamal LNG, 10% of Arctic LNG 2 project and has pipeline gas supply deals with Gazprom.China Petroleum & Chemical Corp.

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