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

📆 01/03/2022 08:12:00
📰 dailymaverick

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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.

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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