The Financial Times Reported That Shell Has Begun a “Painful” Exit From the Sakhalin-2 Project. The Newspaper’s Source Called the Negotiations That Are Taking Place on This Issue “A Nightmare

The Financial Times Reported That Shell Has Begun a “Painful” Exit From the Sakhalin-2 Project. The Newspaper’s Source Called the Negotiations That Are Taking Place on This Issue “A Nightmare

By Ukraine In Hurricane [EN]

The Financial Times reported that Shell has begun a “painful” exit from the Sakhalin-2 project. The newspaper’s source called the negotiations that are taking place on this issue “a nightmare

Losses from closing the business in Russia will amount to about $5 billion. The company is selling its 27.5% stake in the field

Shell is trying to at least partially offset its costs, writes FT. Shell’s assets are ready to buy the Chinese CNOOC, CNPC and Sinopec, but for this Shell will have to make a significant discount.