LONDON, March 1 ― Shell will exit all its Russian operations, including a major liquefied natural gas plant, it said yesterday, becoming the latest major Western energy company to quit the oil-rich country following Moscow's invasion of Ukraine.
Shell said the decision to exit Russian joint ventures will lead to impairments. Shell had around US$3 billion in non-current assets in these ventures in Russia at the end of 2021, it said. During that previously unreported meeting, Looney made it clear the company's investment in Rosneft had become untenable, the sources said.
Looney also spoke to British Business Secretary Kwasi Kwarteng on Friday, when Kwarteng expressed his concern about BP's interests in Russia. Kwarteng welcomed BP's decision to exit on Twitter on Sunday.“Shell have made the right call to divest from Russia,” he said on Twitter, adding that he had spoken to van Beurden earlier yesterday.
Source: News Formal (newsformal.com)
Shell never say anything for what is happening in Israel. Hypocrite!!!
Wow...this is an opportunity BUT it would come with heavy price. China must be happy with this unexpected news.
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