- Equinor is the first major Western oil company to completely exit Russia.
- ExxonMobil, BP, Shell, and TotalEnergies have all committed to leave the country or stop investing.
- Equinor exited four joint ventures with Rosneft and abandoned the Kharyaga project.
Equinor, a Norwegian energy corporation, has announced that it has completed its exit from Russia.
Equinor stated in May that it would exit four joint ventures with Russian oil company Rosneft and abandon the Kharyaga project.
Equinor stated that the pullout has been completed and that there are “no outstanding assets or projects in Russia.”
According to the media, it is the first major Western oil company to completely exit from Russia.
ExxonMobil, BP, Shell, and the French business TotalEnergies have all committed to leave the country or stop investing, but they are still in the process.
Shell announced the sale of its Russian lubricant and retail energy businesses in May, but claimed that the transaction was still in the works.
Shell announced the sale of its Russian lubricant and retail energy businesses in May, but stated that it was still phasing out its other Russian companies.
BP announced in February that it will sell its 19.75% holding in Rosneft, but that due to sanctions and Russian regulations, it had not yet been able to do so.
TotalEnergies has sold some of its Russian oilfields, although the transactions are not expected to be completed until later in September.
ExxonMobil has also stated that it will cease operations at the Sakhalin-1 energy project and will no longer invest in new projects in Russia.
