Bp Stock News

Shell will end all joint ventures with Russian majority state-owned oil company Gazprom in response to the invasion of Ukraine, the oil company announced Monday.As part of the divestiture, Shell will withdraw from its 27.5 percent Sakhalin-II…

Shell is getting out of Russia and ditching its joint ventures with Gazprom, including its involvement with the moribund Nord Stream 2 natural gas pipeline.

Over the weekend, German Chancellor Olaf Scholz and his finance minister, Christian Lindner, announced a sea change in European foreign policy. Germany will at last liberate itself from its dependence on Russian fossil fuels and begin making serious contributions to the military defense of Europe. This was welcome if belated news—the final step in unifying the continent against imperialist Russian aggression. The change from Berlin is also the opening of a new economic era that Western leaders must now embrace, ready or not. For the past half-century, the United States and members of the European Union have deliberately integrated their economies with those of authoritarian regimes abroad. In some cases these arrangements have been motivated by the allure of corporate profit, but more often the project has been entwined with a sincere and broad-minded approach to international politics. By linking together the economies of the world in trade, optimists in the 1980s and 1990s hoped not only to lift millions of people out of poverty, but to defuse international tensions and make peace a prerequisite for economic prosperity.

BP opened a new front in the West''s campaign to isolate Russia''s economy by deciding to exit its Russian oil and gas investments, the most aggressive move yet by a company in response to Moscow''s invasion of Ukraine.

The decision comes a day after rival BP abandoned its stake in Russian oil giant Rosneft

Shell PLC said Monday it would exit its joint ventures with Russia''s state-owned natural-gas giant Gazprom and related entities, including stakes in a liquified natural gas facility and other oil and gas projects worth about $3 billion. "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," Shell Chief Executive Officer Ben van Beurden said in a statement. "In discussion with governments around the world, we will also work through the detailed business implications, including the importance of secure energy supplies to Europe and other markets, in compliance with relevant sanctions." Shell valued its assets in the ventures with Gazprom at around $3 billion at the end of 2021. Exiting the joint ventures will lead to impairments, Shell said, without details. Shell reaffirmed its dividend and share buyback programs and said it expects to increase its dividend by 4% for the first quarter. Shell''s decision follows BP PLC''s move to offload its nearly 20% stake in Russian government-controlled oil giant Rosneft as the world reacts the Russian invasion of Ukraine.

''The financial side is painful but pales into insignificance given the humanitarian cost''

The energy giant’s move follows a BP decision to divest its stake in Russia’s state-controlled oil producer Rosneft.

Decisive move to end tie-up with Russian state gas firm follows BP pledge to sell its 20% Rosneft stake Ukraine-Russia crisis: live updates Shell is to exit its joint ventures with Russian state energy firm Gazprom, a day after BP said it would offload its 20% stake in Kremlin-owned oil firm Rosneft, as British businesses scrambled to distance themselves from Vladimir Putin. The oil company said it would “exit its joint ventures with Gazprom and related entities”, which are worth about $3bn. Continue reading…

BP has made the big decision to cut ties to Russia. Here''s what it means for the oil and gas sector and why it''s pushing down SHEL stock.

Oil titan Shell has announced that it will exit all of its joint ventures with Gazprom, Russia''s state owned energy company, following BP''s to exit the country yesterday.

Shell says it will exit Russian oil and gas investments, following a day after rival BP

The British oil firm will face challenges to getting full value for the Rosneft stake that it plans to divest.

Oil stocks are in the spotlight as giants like Shell and BP plan to divest their Russian stakes. Here's what to know about SHEL, BP stocks.

Following news over the weekend that BP (BP) will divest the Company''s Rosneft shares (RNFTF), investors have begun to parse through energy sector holdings in Russia