Jakarta, CNN Indonesia —
Geopolitical tensions between Russia and Ukraine still rolling. This situation has made a number of big-name companies threaten to leave the country of the Red Bear Country.
The decision to leave is also a form of sanctions against Russia for its invasion of Ukraine.
So, which companies will leave?
BP
BP, a world-class oil company headquartered in the UK, has released a 20 percent stake in Russian state oil company Rosneft.
Not only that, BP CEO Bernard Looney and businessman Bob Dudley who occupy the council seat in Rosneft also expressed resignation, where they once served alongside Rosneft CEO Igor Sechin, a close ally of Vladimir Putin.
quote CNNBusinessLast Monday (28/2), BP claimed to be one of the largest foreign investors in Russia. BP is known to have operated for more than 30 years in Russia
BP chairman Helge Lund emphasized that Russia’s military aggression against Ukraine was a fundamental change that made BP’s board take the decision. “Concluded that the company’s involvement in Rosneft cannot be continued,” he said.
Shell
Shell Oil Company also pulled its business from Russian energy company Gazprom.
The company is rumored to be releasing various stakes ranging from a 27.5 percent stake in the Sakhalin-2 liquefied natural gas facility, a 50 percent stake in the Salym field project, and a 50 percent stake in an exploration project on the Gydan peninsula in northwestern Siberia.
Shell CEO Ben Van Beurden said he regretted the Russian invasion and called the move “absurd”.
“We are appalled by the loss of life in Ukraine, which we regret, as a result of this senseless act of military aggression that threatens the security of Europe,” Beurden said Tuesday (1/3).
For information, Shell has made a profit of up to US$700 million or the equivalent of Rp. 10 trillion (exchange rate of Rp. 14,367 per US dollar) from its operations in Sakhalin and Salym.
Exxon Mobil
Another oil company that will leave Russia is Exxon Mobile. The US oil and gas company announced that it would exit various operations in Russia on Tuesday (2/3).
The decision included leaving operations at a large oil and gas production project on Sakhalin Island in Russia’s Far East.
“Given the current situation, Exxon Mobil will not invest in any new developments in Russia,” the company said in a statement. Reuters.
Exxon Mobile did not specify their schedule out of Russia. The company also did not comment on the potential decline in assets. However, the company condemned the Russian attack and said it supported the Ukrainian people.
Last year, Exxon employed more than 1,000 people in Russia with offices in Moscow, St. Petersburg, Yekaterinburg and Yuzhno-Sakhalinst. A Reuters source said the company had evacuated US employees serving in Russia.
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