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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...
Sunday at Trafalgar Square: oil sponsorship meets Russian militarism

Sunday at Trafalgar Square: oil sponsorship meets Russian militarism

Short version of the story: poor timing of the year award goes to Boris Johnson for hosting a huge Russian Maslenitsa (pancake day) festival on the day Russian troops took over Crimea. Lead sponsor of the festivities: Russian state oil corporation Rosneft. Anyone has a clear idea why Mayor of London held Russian festival yesterday...
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...
Russian Roulette - the BP and Rosneft deal

Russian Roulette – the BP and Rosneft deal

On 22nd October BP plc announced it had agreed heads of terms to sell its 50% stake in TNK-BP to Rosneft. BP’s official announcement of the proposed deal refers to Rosneft’s 2011 oil reserve replacement ratio of 127% and dividend of 25% of IFRS net income. However, there are a number of areas of concern...
MPs find government support for Arctic drilling 'reckless'

MPs find government support for Arctic drilling ‘reckless’

The UK government’s support for Arctic Oil drilling was labelled ‘reckless’ today by the Environmental Audit Committee (EAC). The Foreign and Commonwealth Office (FCO) has been quietly supporting oil companies’ Arctic ambitions but this is the first time there has been public scrutiny of the department’s actions in relation to Arctic drilling. The Committee published...
Arctic Anxiety: BP, British foreign policy and the rush for polar oil

Arctic Anxiety: BP, British foreign policy and the rush for polar oil

Friday 25 March 2011: In the wake of Thursday´s arbitration ruling that has delayed BP´s Arctic alliance with Rosneft, Foreign Office minutes sourced through FoIA and a new report published by PLATFORM and Greenpeace UK reveal ongoing high-level support for BP without a formulated policy position or any public or parliamentary debate. Campaign groups are...