Major oil companies pull out of once-promising Russia - Alaska Public Media

  • 📰 AKpublicnews
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 55%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Shell announced Monday that it will cut ties with the Russian state-owned energy giant Gazprom. The move follows a similar decision from BP.

A closed Gazprom gasoline station is shown in Almaty, Kazakhstan, on Jan. 9.

“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’s chief executive,The company will also end its investment in the Nord Stream 2 gas pipeline. Last week, Germany, which would receive Russian gas through the pipeline, announced it is. Shell will also sell its 27.5% stake in the Sakhalin-II liquefied natural gas facility and its 50% stakes in two Siberian oil ventures.

Competitor BP will sell its 19.75% stake in Rosneft, which it has held since 2013. Its Russian assets totaled about $14 billion last year. The British government pressured both firms to cut ties with Russia. Shell recently relocated from the Netherlands to London.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 387. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines