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Sakhalin II

Ukraine calls on energy giant Shell to tap its massive ‘blood money’ profits from Russia’s invasion

FORTUNE

Ukraine calls on energy giant Shell to tap its massive ‘blood money’ profits from Russia’s invasion and donate $1 billion to rebuild the country

BY TRISTAN BOVE April 19, 2023 at 6:15 PM GMT+1

Oil and gas companies reported some of their highest annual profits in history earlier this year, cashing in on gas prices that soared because of Russia’s invasion of Ukraine. But critics say energy giants are indirectly prolonging the war with their record revenues, with some Ukrainian officials even calling for a redistribution of profits to make things right. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Breaking up with Russia is hard for many Western firms, despite war

The Washington Post

Breaking up with Russia is hard for many Western firms, despite war

By : April 15, 2023 at 7:21 a.m. EDT RIGA, Latvia — Only a small percentage of the hundreds of companies that promised to leave Russia after its invasion of Ukraine have exited, according to several groups keeping a scorecard — and for those that dawdled, departing has only become more expensive and complicated.

But leaving can be complex. Four days after the invasion, Shell announced it was leaving Russia and later wrote off its nearly 27.5 percent stake in the Sakhalin-2 LNG facility in the Far East at $1.6 billion. This month, an unconfirmed Russian newspaper report suddenly surfaced that Putin had given permission for the company to repatriate $1.2 billion from the sale of its stake in Russia’s Novatek. Shell had no comment. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Russia’s Novatek to acquire Shell’s stake in Sakhalin-2 for $1.16 bln

REUTERS

Russia’s Novatek to acquire Shell’s stake in Sakhalin-2 for $1.16 bln

MOSCOW, April 12 (Reuters) – Russia’s government has approved the sale of Shell’s (SHEL.L) former 27.5% stake in the Sakhalin-2 energy project to Russian energy firm Novatek (NVTK.MM) for 94.8 billion roubles ($1.16 billion), a government order showed on Wednesday.

Russian President Vladimir Putin gave his consent for the transfer of the required funds to Shell, Russian daily Kommersant reported last week. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Ruble Tumbles to 12-Month Low as Kremlin Greenlights Shell Sale

Ruble Tumbles to 12-Month Low as Kremlin Greenlights Shell Sale

The Moscow Times: Friday 7 April 2023

After months of relative stability, the Russian ruble continued to weaken rapidly against major currencies on Friday, a trend that analysts say has been spurred by increased imports and a surge in foreign capital outflows.

President Vladimir Putin’s recent approval of a deal that permits British energy giant Shell to offload its stake in the Sakhalin-2 oil pipeline project in Russia’s Far East has added to the mix of forces pulling down on the ruble. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Putin Approves $1.2 Billion Payment To Shell For Sakhalin-2 Exit

OILPRICE.COM

Putin Approves $1.2 Billion Payment To Shell For Sakhalin-2 Exit

Vladimir Putin has approved a request by Novatek to allow Shell to receive $1.2 billion (94.8 billion rubles) from the Russian gas producer for its 27.5% stake in the Sakhalin-2 LNG project, Russian daily Kommersant reported on Tuesday, quoting sources with knowledge of the matter.

Last year, a decree from Putin stipulated that a newly set up state Russian company would take over the rights and obligations of Sakhalin Energy Investment Co., the joint venture running the Sakhalin-2 oil and gas project. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

For Western energy giants, escaping Russia has become the longest goodbye

The Telegraph

For Western energy giants, escaping Russia has become the longest goodbye

Not long ago oil and gas companies were scrambling to get into Russia, rather than out

Shell has had ties to Russia since 1912 after buying the Rothschild family’s interests there. More recently, its partnership with Russia’s state gas giant Gazprom has helped it access vast gas reserves in Russia’s far east.

It, too, hung on even after having to cede control of the $22bn [£19bn] Sakhalin-2 gas facility to Russia in 2006 following months of Kremlin pressure.

Shell’s boss, Ben van Beurden, met Putin in April 2014, shortly after Russia’s annexation of Crimea, to tell him they wanted to expand the project. Equinor, meanwhile, entered Russia in the 1990s and ten years ago struck a major exploration deal with Rosneft as the two Arctic powers forged closer ties.

By the start of the war, foreign companies covered about 11pc of Russia’s oil and gas production, according to James Henderson, at the Oxford Institute for Energy Studies. BP, TotalEnergies, Wintershall Dea, Shell and India’s Oil and Natural Gas Corporation were the largest. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell Walks Away From Major Russian LNG Project With Nothing

Bloomberg

Shell Walks Away From Major Russian LNG Project With Nothing

By Will Mathis: 1 September 2022 at 17:30 BST

Shell Plc will walk away from Russia’s Sakhalin-2 liquefied natural gas project with nothing after President Vladimir Putin transferred the major facility to a new operating company.

The London-based firm’s decision is the latest indication that Putin won’t allow international energy companies to realize big financial gains as they exit Russia over the invasion of Ukraine.

Shell had already written off the $1.6 billion value of its 27.5% stake in Sakhalin-2 earlier this year. T read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell may have to write off investment of more than £3bn in major Russian gas project after Vladimir Putin moves to seize control of site

This is MONEY

Shell may have to write off investment of more than £3bn in major Russian gas project after Vladimir Putin moves to seize control of site

Shell may have to write off an investment of more than £3billion in a major Russian gas project after Vladimir Putin moved to seize control of the site.

The Kremlin has drawn up plans to transfer ownership of the Sakhalin-2 plant, located in the far east of the country, to a new Russian firm citing national and economic security interests.

Putin has given the project’s backers a month to decide whether they will take a holding in the new company, meaning those that refuse could lose all their money. Shell owns nearly 28 per cent of the Sakhalin-2 plant worth around £3.4billion. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Putin Swoop on Gas Plant Risks Forcing Foreign Partners Out

yahoo!finance

Putin Swoop on Gas Plant Risks Forcing Foreign Partners Out

(Bloomberg) — President Vladimir Putin signed a decree to transfer rights to the Sakhalin-2 natural gas project to a new Russian company, a move that could force foreign owners including Shell Plc to abandon their investment in the facility.

The decree cites threats to Russia’s national interests and economic security, according to a statement dated June 30, issued by the Kremlin and signed by Putin. Stakeholders have one month to say whether they’ll take a holding in the new company, and those who opt out may not be fully compensated, the statement said.

The move could prove complicated for Shell, which holds a 27.5% stake in the liquefied natural gas facility in Russia’s far east. The energy giant announced it would exit the project after Russia invaded Ukraine, and also said it wouldn’t commit to any new investments in the country.

Chief Executive Officer Ben van Beurden said earlier this week that Shell is making progress selling its stake, which Wood Mackenzie estimates is worth $4.1 billion. China’s key state-run energy companies are in talks with Shell to buy its stake in the project, people familiar with the details said in April.

Shell is aware of the decree and is assessing its implications, the company said in a statement.

The world is already grappling with surging fuel prices as Putin steps up the use of gas as a weapon, and any effort by Moscow to take over energy assets could rile markets further. Most western energy firms are trying leave Russian projects, but are struggling to find willing buyers. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Kremlin orders seizure of gas facility which Shell has 27 per cent stake in worth £3.4bn

CITYA.M.

Kremlin orders seizure of gas facility which Shell has 27 per cent stake in worth £3.4bn

Russia’s President Vladimir Putin has ordered the seizure of a gas facility in the county which UK firm Shell has a 27 per cent stake in.

The Kremlin signed a decree to take control of rights of the Sakhalin-2 plant, which will be transferred into Russian hands.

This comes as Moscow continues to come under severe economic pressure with sanctions, while countries including the UK, Germany and other EU states have been urged to stop buying fuel from Russia, amid its war against Ukraine. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Putin moves to seize a large gas venture in Russia’s Far East.

THE NEW YORK TIMES

Putin moves to seize a large gas venture in Russia’s Far East.

Shell and two Japanese companies, Mitsui and Mitsubishi, are minority shareholders in the Sakhalin-2 joint venture.

: July 1, 2022, 8:05 a.m. ET

Russia is moving to take over an important natural gas joint venture, putting the investments of Shell and two Japanese trading companies, Mitsui and Mitsubishi, at risk.

A decree issued by President Vladimir V. Putin on Thursday said the project, called Sakhalin-2, which is on Sakhalin Island in Russia’s Far East and is a key exporter of fuel to Japan, would be taken over by a new company. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Russia moves to take control of Sakhalin-2 oil and gas project

BBC News

Russia moves to take control of Sakhalin-2 oil and gas project

1 JULY 2022

Russia has moved to take over a major oil and gas project in which Shell has a 27.5% stake.

Russian President Vladimir Putin signed a decree on Thursday to take charge of the Sakhalin-2 project.

The move could force Shell and Japan’s Mitsui and Mitsubishi to abandon their investments as the economic fallout of the Ukraine war spreads.

Oil giant Shell said: “We are aware of the decree and are assessing its implications.” read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Exclusive-Shell in talks with Indian consortium to sell Russian LNG plant stake -sources

Reuters

Exclusive-Shell in talks with Indian consortium to sell Russian LNG plant stake -sources

LONDON (Reuters) -Shell is in talks with a consortium of Indian energy companies to sell its stake in a major liquefied natural gas plant in Russia, three sources told Reuters, highlighting India’s willingness to step into the space left by Western companies following Moscow’s invasion of Ukraine.

The world’s third-largest oil importer and consumer has already stepped up purchases of Russian supplies since the conflict began in February, taking advantage of big discounts at a time when global oil prices have surged.

The sources said Shell has recently entered into talks with a group of Indian companies, including ONGC Videsh and Gail, over its 27.5% stake in the Sakhalin-2 LNG plant on Russia’s eastern flank.

Shell declined to comment. ONGC, Gail and other state-run Indian companies did not respond to Reuters’ request for comment.

The talks follow the British company’s plans to exit all its Russian operations, amid an exodus of Western companies from the country in response to sanctions over the Ukraine conflict. India has not explicitly condemned Moscow’s actions there.

India has snapped up cheap Russian oil, taking its share of Russian oil exports to around 10% from zero since the start of this year, according to the International Energy Agency. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell sells Russian retail business to Lukoil

REUTERS

Shell sells Russian retail business to Lukoil

May 12 (Reuters) – Russia’s second-largest oil producer Lukoil (LKOH.MM) will buy Shell’s (SHEL.L) Russian retail and lubricants businesses, the companies said on Thursday, as the British oil major moves ahead with its exit from the country following its Ukraine invasion.

The deal includes 411 retail stations, mainly located in the Central and Northwestern regions of Russia, and the Torzhok lubricants blending plant, Shell said in a statement.

“The acquisition of Shell’s high-quality businesses in Russia fits well into Lukoil’s strategy to develop its priority sales channels, including retail, as well as the lubricants business,” said Maxim Donde, a vice-president with Lukoil.

Neither Shell, nor Lukoil would not comment on the value of the deal, which still requires the approval of Russia’s anti-monopoly authorities. read more

“Under this deal, more than 350 people currently employed by Shell Neft will transfer to the new owner of this business,” Shell said. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell tightens restrictions on Russian oil buying

Shell tightens restrictions on Russian oil buying

By Ron Bousso and Rowena Edwards

April 27 (Reuters) – Shell SHEL.L on Wednesday tightened its restrictions on buying Russian oil, saying it would no longer accept refined products with any Russian content, including blended fuels.

Shell last month said it would phase out buying Russian crude and its involvement in all Russian hydrocarbons from oil to natural gas, after facing an uproar over buying a Russian crude cargo in the days following Moscow’s invasion of Ukraine. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Ukraine urges Johnson to ensure ‘not a drop’ of Russian oil reaches the UK

The Telegraph

Ukraine urges Johnson to ensure ‘not a drop’ of Russian oil reaches the UK

Shell, one of the world’s largest oil and gas companies, has pledged to withdraw from Russian oil products, but…

Ukraine’s government has urged the UK to ensure “not a single drop of Russian oil enters the country”, as it pushed for a “total and immediate” boycott on Russian fossil fuels.

Oleg Ustenko, economic adviser to President Volodymyr Zelenskyy, said it was “no time for half measures”. It comes amid concerns Britain may adopt a definition of Russian oil that allows some Kremlin supplies into the country, even under the impending embargo. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
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