The Board of Directors of the Norwegian Oil and Gas Company Equinor (former Statoil) decided to make it possible from joint ventures in Russia and the cessation of new investments in the country. This is stated in the company’s statement: “The process of exiting joint ventures in Russia with Equinor,” RBC reports.
“We are all deeply concerned about the invasion of Ukraine, which is a terrible failure for the whole world, and we think about all those who suffer from for hostilities,” says Anders, President and CEO Equinor, emphasized, that the main priority of Equinor in this difficult situation is the “Security of our people”.
Equinor has been working in Russia for more than 30 years. In 2012, the company concluded a strategic partnership with Rosneft and calls these relations the basis of its activities in Russia. As of the end of 2021, non-current assets of the company in the country were estimated at $ 1.2 billion, resembles RBC.
On the eve, February 27, BP announced its intention to sell its share (19.75%) in Rosneft. BP will also come out of three relevant enterprises with Rosneft in Russia, the carrying value of which was about $ 1.4 billion at the end of 2021.