Equinor Asa Stock News

Energy giants cut ties over war in Ukraine UK-based Shell and French-based Total on Tuesday announced they were severing ties with Russia following sanctions placed on Moscow over its ongoing military conflict with Ukraine. Total said it will not invest in new projects in Russia, adding that its board condemns Russia''s actions and “ expresses its solidarity with the Ukrainian people who are suffering the consequences and the Russian people who will also suffer the consequences. ” The energy company noted its approval of all sanctions imposed against Russia and pledged to comply with them, despite the possible impact on its activities. Shell said it would exit its joint ventures with Russian energy giant Gazprom, with the company’s CEO Ben van Beurden saying he is “ shocked by the loss of life in Ukraine. ” “ Our decision to exit is one we take with conviction. We cannot – and we will not – stand by ,” van Beurden said. Read more Nord Stream 2 forced to lay off staff, may file for bankruptcy The decision means that Shell will pull out of its 27.5% stake in the Sakhalin II liquefied natural gas facility, its 50% stake in the Salym Petroleum Development and the Gydan energy venture.

KYIV/MOSCOW (Reuters) - A huge Russian armoured column bore down on Kyiv on Tuesday, after the lethal shelling of civilian areas in Ukraine''s second largest city raised fears that frustrated Russian commanders could resort to more devastating tactics. Nearly a week since after Moscow launched war on its neighbour it has failed to capture a single major Ukrainian city after running into unexpectedly fierce resistance. Western countries fear that Russian commanders could now unleash the tactics they employed in Syria and Chechnya in recent decades, when they pulverised civilian areas, killing thousands, as they sent in their tanks. Oil company Shell became the latest Western firm to announce it was pulling out of Russia. International sanctions and global financial isolation have had a sudden and devastating impact on Russia''s economy, with the rouble in freefall and queues outside banks as Russians rush to salvage their savings. U.S. satellite company Maxar released pictures showing tanks and fuel trucks snaking along a highway from the north, bearing down on Kyiv along 40 miles (60 km) of highway. "For the enemy, Kyiv is the key target," President Volodymyr Zelenskiy, who has remained in the capital rallying Ukrainians with regular video updates, said in his latest message overnight. "We did not let them break the defence of the capital, and they send saboteurs to us …

Shell has joined BP and Equinor in a decision to exit Russia-related businesses following Russia''s attack on Ukraine. The post After BP and Equinor, Shell follows suit in ditching Russian business appeared first on Offshore Energy .

Global oil and gas giant Shell said Monday that it is pulling out of Russia as President Vladimir Putin’s invasion of Ukraine continues to cost the country’s all-important energy industry foreign investment and expertise. Shell announced its intention to exit its joint ventures with Russia’s state-owned energy giant Gazprom and related entities, including a 27.5% stake in a key liquefied natural gas project as well as 50% stakes in two projects that are developing oil fields in Siberia. Shell also said it intends to end its involvement in Nord Stream 2, a controversial pipeline built to carry Russian natural gas to western Europe. German Chancellor Olaf Sholz halted certification of the project after Russia invaded Ukraine. “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 Ben van Beurden said in a statement. Shell’s decision comes as Western energy companies come under pressure to ditch their Russian investments amid concern that proceeds from oil and gas sales will help fund the war in Ukraine.

Russia''s oil industry could suffer the biggest ever withdrawal of foreign investment in a short period.What: BP and Equinor have both announced …

Moscow faced increasing isolation on Tuesday, March 1, as President Vladimir Putin showed no sign of stopping an invasion of Ukraine , where fierce fighting and Russian bombardment have killed dozens and sparked a refugee crisis. Russia’s invasion, launched last week, appears not to have achieved the decisive early gains that Putin would have hoped for. The Russian leader faces mounting diplomatic isolation for launching the biggest assault on a European state since World War Two,and the systemic impact of Western sanctions led to a near 30% collapse in the rouble on Monday, February 28, before central bank intervention rescued the currency from its lows. Ceasefire talks held Monday failed to reach a breakthrough and negotiators have not said when a new round would take place. The United States and its allies have imposed sanctions on Russia’s central bank, its top businesses, oligarchs and officials, including Putin himself, and barred some Russian banks from the SWIFT international payments system.

Oil prices surge on Monday, with the global Brent benchmark settling above $100 a barrel, after the West imposed more sanctions on Russia, a key producer, due to its ongoing invasion of Ukraine.

Shell will exit giant Sakhalin 2 LNG project and end its Nord Stream 2 pipeline involvement

News, analysis and comment from the Financial Times, the worldʼs leading global business publication

The Ukraine crisis divides the oil and gas space into two halves, Russian and non-Russian. Investors should invest accordingly.

Investors seeking safe stocks to buy this March should consider this list with some names other lists might have missed. The post 7 Safe Stocks to Buy for March 2022 As Value Is Back in Force appeared

Equinor had $1.2 billion in assets at the end of last year in Russia, where it has had a partnership with Russian oil company Rosneft since 2012.

LONDON: Shares in British energy giant BP slumped Monday, wiping billions of dollars from the company''s value after it said it was exiting Russia over the country''s invasion of neighbour Ukraine. BP was down 5.6 percent around midday on London''s benchmark FTSE 100 index, which was down 1.5 percent overall. BP on Sunday said it was pulling its 19.75-percent stake in energy group Rosneft, ending more than three decades of investment in Russia. The British company''s chief executive Bernard Looney also announced his resignation from the Rosneft board. "Russia''s attack on Ukraine is an act of aggression which is having tragic consequences across the region," said the company''s chairman Helge Lund. "BP has operated in Russia for over 30 years, working with brilliant Russian colleagues," he added. "However, this military action represents a fundamental change." Kwasi Kwarteng, Britain''s business minister, welcomed the announcement. "Russia''s unprovoked invasion of Ukraine must be a wake up call for British businesses with commercial interests in Putin''s Russia," he tweeted.

UK’s oil major BP has decided to exit its shareholding in Russia’s oil and gas giant Rosneft while Norway’s Equinor has moved to exit its joint ventures in Russia following the attack on Ukraine, which started last week. BP revealed its decision late on Sunday to exit its 19.75 per cent shareholding in Russia’s state-owned […]

The latest developments on the Russia-Ukraine war: