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
World Pipelines Podcast: Going global with IPLOCA
In this episode, Elizabeth Corner speaks to Georges Hage, Executive Secretary at IPLOCA, about IPLOCA's insights on the culture and characteristics of the pipeline contractor community, and how it works to support sustainable energy infrastructure.
Fox Innovation & Technologies (FOX) acquires Sirio Solutions Engineering (SSE) S.p.A.
SSE will add complementary services and international exposure to the FOX footprint.
