Worldwide power big BP has opted to go away Russia after Western international locations imposed extreme sanctions on its firms and people following Moscow’s navy assault on Ukraine.
BP, the largest international investor in Russia, stated it was abandoning its stake within the state oil firm Rosneft at a value of as much as $25bn, shrinking its oil and gasoline reserves in half. Shell adopted swimsuit, saying it could divest of its publicity as properly.
The next are some information in regards to the publicity of Western oil and gasoline firms to Russia, which calls its actions in Ukraine a “particular operation”:
The British oil firm has a 19.75 % stake in Rosneft, headed by Igor Sechin, a longstanding ally of President Vladimir Putin. Rosneft accounted for a 3rd of BP’s oil and gasoline output in 2021.
The German chemical compounds maker BASF co-owns Wintershall Dea – one of many monetary backers of the suspended Nord Stream 2 gasoline pipeline – with Russian billionaire Mikhail Fridman’s LetterOne investor group. BASF additionally says it generates 1 % of group gross sales from Russia.
Wintershall Dea and Gazprom collectively work on the Achimov Growth gas-producing challenge.
Chevron has a 15 % stake within the Caspian Pipeline Consortium (CPC), a pipeline that runs from Kazakhstan to a Russian Black Sea terminal used for Chevron to export its crude. It additionally operates different subsidiaries that accomplice with Russian firms.
The French gasoline utility is one among 5 co-financiers of Gazprom’s Nord Stream 2 and has a stake in Nord Stream 1, an working pipeline, together with Wintershall Dea and Gasunie.
The Italian firm and Gazprom every have a 50 % stake within the Blue Stream gasoline pipeline to Turkey.
The power group EQNR, which is majority-owned by the Norwegian state, stated on Monday it would begin divesting its joint ventures in Russia. It has minority stakes in three Russian oilfields.
Norway’s sovereign wealth fund, the world’s largest, may even divest its Russian belongings, price about 25 billion Norwegian crowns ($2.80bn).
The worldwide oil firm’s key asset in Russia is the Sakhalin-1 oil and gasoline producing challenge within the Pacific. ExxonMobil additionally markets petrochemical merchandise in Russia which might be utilized by native industries, in response to its web site.
An ExxonMobil affiliate has a 7.5 % curiosity within the Caspian Pipeline Consortium (CPC), which exports oil from Kazakhstan through the Russian Black Sea port of Novorossiisk.
The corporate exited a number of joint ventures in Russia following sanctions imposed after Moscow annexed Crimea in 2014.
Halliburton’s Eurasia unit operates in Russia and Ukraine. The corporate warned in February as tensions rose that its skill to have interaction in sure future initiatives in Russia or work with sure Russian prospects trusted whether or not its involvement could be restricted because of United States or European Union sanctions legal guidelines.
The oil and gasoline firm OMV is among the 5 monetary backers of Nord Stream 2 and is Austria’s essential importer of Russian gasoline. It has a 24.99 % stake within the Russian gasoline area Yuzhno-Russkoye.
The Anglo-Dutch oil firm is among the largest direct international traders within the Russian financial system. It owns 27.5 % of the Sakhalin-2 liquefied pure gasoline challenge, which has an annual capability of 11 million tonnes and is operated by Gazprom. It is among the 5 co-financiers of Nord Stream 2.
Shell additionally has pursuits within the Salym Petroleum oil challenge with Gazprom Neft and a enterprise for hydrocarbon growth at Gydan Arctic peninsular. On Monday, Shell stated it deliberate on leaving its Russian partnerships.
The French firm holds a 19.4 % stake in Novatek, Russia’s largest producer of liquefied pure gasoline (LNG). It has a 20 % stake within the Yamal LNG challenge in addition to a ten % curiosity in Arctic LNG 2, which is scheduled to start out manufacturing subsequent 12 months.
The corporate additionally holds a 49 % stake within the Terneftegas three way partnership, which develops the Termokarstovoye onshore gasoline and condensate, and a 20 % curiosity within the onshore Kharyaga oil area, its web site reveals. It has acquired 10 % in LNG transhipment hubs in Murmansk and Kamchatka.
The German utility has a $1bn publicity to Nord Stream 2, together with 5 energy vegetation in Russia with a mixed capability of 11.2 gigawatts, offering about 5 % of Russia’s complete power wants.
Uniper and its controlling shareholder Fortum collectively personal 12 energy vegetation in Russia and make use of 7,000 individuals there.
(Reporting by Reuters in Moscow; Modifying by Emelia Sithole-Matarise and Alistair Bell)