US sanctions Russian oil majors
US sanctions Russian oil majors over Ukraine, reports Reuters.
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In a statement, Joseph Elkhoury, KCA Deutag's CEO, said the company had suspended all new investments in Russia and is evaluating its options relating to its Russian business.
All three companies have said they will fulfil any existing activity in full compliance with applicable international laws and sanctions.
Equinor will not enter any new trades or engage in transport of oil and oil products from Russia.
The company has suspended activities with LLC Gusar as a result of the ongoing situation in Ukraine.
At the end of 2021, Shell had around US$3 billion in non-current assets in Russia.
At the end of 2021 Equinor had US$1.2 billion in non-current assets in Russia.
BP has held a 19.75% shareholding in Russian state-owned oil company Rosneft since 2013.
The companies will collaborate to drive industry standardisation and sustainable development, as Russia’s energy sector seeks to encourage industry participation by international companies in its drive to expand at home and abroad.
The agreement, signed at the St. Petersburg International Gas Forum, documents the intention of both parties to work together in jointly determining applications and solutions that can benefit from the introduction of new technologies for oilfield services.
