Norway's Equinor Confirms Trading Halt in Russian Oil
(Reuters) — Norwegian state oil company Equinor said on Monday it will stop trading in Russian oil as the company shuts down operations in Russia following its invasion of Ukraine.
Equinor's official announcement comes four days after Equinor's CEO, Anders Opedal, told Reuters the company had stopped trading Russian oil.
"When we said we wanted to start exiting the (Russian joint venture), we also stopped from that date trading with Russian oil," Opedal said.
Equinor added on Monday that it had contractual commitments which it struck prior to Russia's invasion of Ukraine, under which it was to receive four oil cargoes in March.
The company said that receiving those cargoes would be "in full compliance with current sanctions."
On Feb. 28, just days after the invasion, Equinor said it would exit its joint ventures with Russia's Rosneft, anticipating a writedown on its $1.2 billion in holdings.
Equinor joins oil and gas majors, including Shell, BP, France's TotalEnergies and Italian energy group ENI, in stopping purchases of oil from Russia.
Related News
Related News
- Enbridge Plans 86-Mile Pipeline Expansion, Bringing 850 Workers to Northern B.C.
- Intensity, Rainbow Energy to Build 344-Mile Gas Pipeline Across North Dakota
- Enbridge Sees High Demand to Expand 593-Mile Canada-to-U.S. Gulf Oil Pipeline
- Energy Transfer to Build $5.3 Billion Permian Gas Pipeline to Supply Southwest
- Strike Pioneers First-of-Its-Kind Pipe-in-Pipe Installation on Gulf Coast with Enbridge
- A Systematic Approach To Ensuring Pipeline Integrity
- 275-Mile Texas-to-Oklahoma Gas Pipeline Enters Open Season
- LNG Canada Start-Up Fails to Lift Gas Prices Amid Supply Glut
- Strike Pioneers First-of-Its-Kind Pipe-in-Pipe Installation on Gulf Coast with Enbridge
- Enbridge Sees High Demand to Expand 593-Mile Canada-to-U.S. Gulf Oil Pipeline
Comments