Oil majors such as Equinor, Shell and BP start to exit Russia removing interests over the attacks against Ukraine
Equinor’s Exit
Equinor has decided to stop new investments into Russia, and to start the process of exiting Equinor’s Russian Joint Ventures.
'We are all deeply troubled by the invasion of Ukraine, which represents a terrible setback for the world, and we are thinking of all those who are suffering because of the military action,' says Anders Opedal, President and CEO of Equinor.
bp’s Exit
bp will exit its 19.75% shareholding in Rosneft.
Both bp-nominated directors to resign from Rosneft board with immediate effect.
bp will no longer report reserves, production or profit for Rosneft.
Changes in accounting treatment of Rosneft shareholding expected to lead to a material non-cash charge.
bp’s financial frame and distribution guidance remains unchanged.
bp has announced that it will exit its shareholding in Rosneft. bp has held a 19.75% shareholding in Rosneft since 2013.
Additionally, bp chief executive officer Bernard Looney is resigning from the board of Rosneft with immediate effect. The other Rosneft director nominated by bp, former bp group chief executive Bob Dudley, is similarly resigning from the board.
Shell’s Exit
Shell Plc said on Monday it intends to exit its joint ventures with Russian gas giant Gazprom and related entities following Russia’s invasion of Ukraine.
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