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Russian Roulette. The impact of sanctions against Russia on international oil companies

Russian Roulette. The impact of sanctions against Russia on international oil companies

This briefing by Platform, Greenpeace UK and ShareAction outlines the main European and US sanctions that impact IOCs operating in Russia. It details the impact of these sanctions on planned joint ventures involving Exxon, Statoil, Eni and Shell. It also examines the unique consequences for BP as a holder of a 19.75% stake in Rosneft...
Gazprom polar bear ‘gift’ seeks to gloss over the reality of Arctic drilling

Gazprom polar bear ‘gift’ seeks to gloss over the reality of Arctic drilling

NB This blog post was part of an internet hoax instigated by Greenpeace and The Yes Men. You can read more about it here. Check out this ‘video news release’ from the giant Russian energy  company Gazprom, celebrating its new partnership with Shell to drill for  oil in the Arctic. The bear in the film...

Greenpeace sounds alarm on oil groups after sinking of platform, featuring our report ‘Russian Roulette’

Guy Chazan. Piece made homepage of FT website
Russian Roulette: International Oil Company Risk in the Russian Arctic

Russian Roulette: International Oil Company Risk in the Russian Arctic

International Oil Companies (IOCs) face pressure from investors to achieve a positive reserves replacement ratio. With governments around the world increasingly asserting control over natural resources in their territory, as well as conventional oil reserves dwindling, the Arctic is one of the frontier areas targeted by IOCs. In Russia, IOCs have entered a number of...
Shell and Gazprom sign more documents on Arctic tie-up

Shell and Gazprom sign more documents on Arctic tie-up

Gazprom and Shell signed a new agreement today, under the eyes of Vladimir Putin on his trade mission to Europe. The agreement has been in discussion for a few years; at one point a BP-and-Rosneft style share swap was discussed, but the two companies appear to have settled for a Joint Venture. Together they’ll extract...
Divide and fall? Total criticise Arctic oil drilling

Divide and fall? Total criticise Arctic oil drilling

As Andy Rowell wrote this morning, “this is big news”. Total are the first major oil company to publicly state that companies should not be drilling for oil in the Arctic. A divide amongst the oil majors will only increase pressure on companies, like Shell, who despite having to abandon this years drilling plans, still...
Out in the Cold: Investor Risk in Shell's Arctic Exploration

Out in the Cold: Investor Risk in Shell’s Arctic Exploration

Royal Dutch Shell’s plans for Arctic exploration are exposing investors to a ‘spectrum of risks’, this new report by Platform, Fairpensions, and Greenpeace warns. Download the report (pdf) and investor briefing or read online below. The report highlights Shell’s failure to address key concerns for investors and environmentalists: • Spill response plans are inadequate –...

Sakhalin II Impacts

Shell's Sakhalin II gas & oil project in far eastern Russia has disrupted the social and economic fabric of local communities, including indigenous communities and local fishermen. Rare and endangered species are being threatened with extinction, including the Western Pacific Gray Whale and Stellar's Sea Eagle. Shell's pipeline stretches from the northern tip of Sakhalin...
Principal Objections: Analysis of Sakhalin II gas & oil project’s compliance with the Equator Principles

Principal Objections: Analysis of Sakhalin II gas & oil project’s compliance with the Equator Principles

Shell's Sakhalin II integrated oil and gas project fails to comply with the Equator Principles on responsible lending. The project on Sakhalin Island in Russia’s Far East will have severe environmental impacts, including threatening the critically endangered Western Gray Whale with extinction, damaging habitats of endangered bird and fish species, and polluting important fisheries.