Despite pledged to leave Russia from many international oil majors, this is not as easy as it sounds, and US and UK companies are still sticking to Russian assets, CEO of TotalEnergies, Patrick Pouyanne, Said on Wednesday.
A few days after Russia’s invasion of Ukraine began, British BP and Shell said they would sell Russian assets and suspend trading with Russian oil.
The war in Ukraine “has fundamentally reconsidered bp’s position with Rosneft. I am convinced that the decision we made as the Board of Directors is not only correct, but also in the long-term interests of bp. is doing”. BP CEO Bernard Looney said a few days after the invasion.
ExxonMobil, a US super-major, said it would stop operations in Sakhalin-I, make no new investment in Russia, and lament “Russian military action.”
Only TotalEnergies has not announced an immediate withdrawal from Russia and has received a lot of criticism from investors and campaign participants.
“Everyone is telling Anglo-Saxon competitors to leave,” TotalEnergies CEO Puyanne told RTL Radio in France today. “No one of my competitors has left Russia and knows how to leave Russia,” he added.
As Bloomberg quoted, “Do you want us to abandon Russian assets to enrich the Russians we have put under sanctions? It’s a demagogue, so I won’t give in to it,” Puyanne said. Told.
On Tuesday, TotalEnergies shared its views and actions regarding its business in Russia “after a serious and unfounded accusation of” accomplices to war crimes “leveled against TotalEnergies.”
Again condemning Russia’s invasion of Ukraine, the company said it would not provide additional capital for project development in Russia and would not conclude or renew contracts to purchase Russian oil and petroleum products. Purchase of Russian oil and petroleum products as soon as possible, by the end of 2022 at the latest. “
TotalEnergies said it does not operate oil, gas or liquefied natural gas (LNG) plants in Russia.
In addition, the company said, “The current environment of European sanctions and Russian law regulating foreign investment in Russia will prevent TotalEnergies from finding non-Russian buyers for the benefit of Russian minority shareholders. Abandoning these interests without consideration would inconsistently enrich Russian investors. ” For sanctions purposes. ”
By Tsvetana Paraskova at Oilprice.com
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