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
- Mexican President: Billionaire Slim Interested in Pemex Natural Gas Project
- Freeport LNG Sues Three Contractors Over Defects at Texas Plant
- Energy Transfer Adds 6,000 Miles of Pipeline with $3.25 Billion WTG Midstream Acquisition
- FERC Approves Transco's Texas to Louisiana Gas Pipeline Project
- Williams Says Court Rules in Its Favor in Pipeline Dispute with Energy Transfer
- U.S. to Buy 4.5 Million Barrels of Oil to Replenish Strategic Petroleum Reserve
- Kurdish Oil Smuggling to Iran Flourishes
- U.S. Court Overturns Alaska Oil Lease Sale, Halting Energy Development
- Second Gas Pipeline Rupture in Texas’ Reeves County Raises Environmental Concerns
- Williams Begins Louisiana Pipeline Construction Despite Ongoing Legal Dispute with Energy Transfer
Comments