Shell, BP Exit Russian Partnerships

March 1, 2022

Shell and BP have pulled out of key business ventures with Russian oil firms.

March 1, 2022—Shell and BP are pulling out of partnerships with the Russian energy firms amid a European military conflict in Ukraine.

The Guardian reports that BP recently announced that it would pull out of a 20-percent stake in Rosneft, a state-owned oil concern. After that, Shell followed suit and announced it would sever ties with Gazprom, another Russian firm.

The move from Shell includes ended involvement in the Nord Stream 2 pipeline between Russian and Germany. Shell still has business interests in Russia, including a network of gas stations.