Skip to Content
AP National Business

Shell to pull out of energy investments in Russia over war

<i></i><br/>
KMIZ

By
Published 1:04 PM

By DANICA KIRKA
Associated Press

LONDON (AP) — Shell says it’s 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. The company on Monday announced its intention to exit joint ventures with Russia’s state-owned energy giant Gazprom and related entities. That includes stakes in a key liquefied natural gas project and two projects that are developing oil fields in Siberia. Shell also intends to end its involvement in the now-halted Nord Stream 2 natural gas pipeline. BP announced plans Sunday to shed an almost 20% stake in Russian-controlled Rosneft. Norway’s Equinor said Monday that it would halt new investment in Russia and begin selling holdings there.

Article Topic Follows: AP National Business

Jump to comments ↓

Associated Press

BE PART OF THE CONVERSATION

ABC 17 News is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content