Royal Dutch Shell Plc  .com Rotating Header Image Occidental Pete set to exit Russia

Los Angeles oil giant Occidental Petroleum Corp. said Thursday, Jan. 11, it agreed to sell its 50% stake in the Vanyoganneft joint venture in western Siberia to Russian-British oil company OAOTNK-BP Holding for $485 million. Occidental expects to book a $400 million gain on the sale in the first quarter.

Some non-Russian companies have been pulling out of Russia because of a difficult political environment.

In late December, Royal Dutch Shell plc sold its majority stake in the $22 billion Sakhalin-2 oil and gas project to government-controlled OAOGazprom for $7.4 billion, which many considered a low price. — Claire Poole and its also non-profit sister websites,,,,, and are all owned by John Donovan. There is also a Wikipedia article.

0 Comments on “ Occidental Pete set to exit Russia”

Leave a Comment

%d bloggers like this: