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OOO GPN-Salym projects and Shell Salym Development B.V. can become participants OOO Salym Development, while maintaining parity shares of 50% of the previous owners
Both Shell and BP announced they are pulling out of Russia, as President Vladimir Putin’s invasion of Ukraine continues to take its toll on the country's economy, which is heavily dependent on foreign investments in its energy industry. “We are shocked by the loss of life in Ukraine, which we deplore, resulting from a senseless act of military aggression," Shell's CEO said. “Our decision to exit is one we take with conviction. We cannot — and we will not — stand by."
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% sta...
The company also intends to end its involvement in the Nord Stream 2 pipeline.
LONDON -- 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.