Equinor exits all Joint Ventures in Russia
Published by Sara Simper,
Editorial Assistant
World Pipelines,
On 27 February 2022, Equinor decided to start the process of exiting the company’s Joint Ventures in Russia.
Since then, Equinor has halted all new investments into Russia, stopped trading oil and gas products from Russia and announced an impairment of US$1.08 billion on the balance sheet as of 31 March 2022.
Equinor has now transferred its participating interests in four Russian joint ventures to Rosneft and is released from all future commitments and obligations. An agreement to exit the Kharyaga project has also been signed.
The exit from all Joint Ventures has been completed in accordance with Norwegian and EU sanctions legislation related to Russia.
Read the article online at: https://www.worldpipelines.com/business-news/26052022/equinor-exits-all-joint-ventures-in-russia/
You might also like
The World Pipelines Podcast - "Fight while wounded": how pipelines can stay resilient amid cyber threats
A conversation about how the energy and pipeline sectors can build cyber resilience in an era of growing complexity and connection. Featuring Ross Brewer, Vice President and Managing Director of EMEA at Graylog.
Tune in to the World Pipelines Podcast on your favourite podcast app today.
