News Formal

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

  • 📰 dailymaverick
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 84%

United States News News

United States United States Latest News,United States United States Headlines

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.

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:

 /  🏆 3. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Maverick: Commodities From Gold to Grains Rally as Russia Faces IsolationCommodities from wheat and gold to aluminum rallied in a jittery start to the week, as traders grapple with a fraught geopolitical environment and an array of supply risks triggered by war in Ukraine. Spinning this as good news runs against the already dire situation of our poorest. High grain/maize prices = high profits for farmers and industry = greater unaffordability for the poor. And we also already know that greater demand does not = more jobs any longer...
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: Australian Miners Ramp Up Search For Lithium to Meet EV DemandExploration spending by Australian-listed miners hit an eight-year high in the fourth quarter of 2021, driven by the search for new lithium resources to meet surging demand from battery and electric vehicle makers.
Source: dailymaverick - 🏆 3. / 84 Read more »