Equinor completes Russia exit due Ukraine war

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This marks the first full, orderly exit from Russia by an international oil and gas firm as pressure mounts on others, such as TotalEnergies and Exxon Mobil (NYSE:XOM), to also leave.

Equinor on Feb. 28 said it would start the process of divesting from joint ventures in Russia, describing its position as “untenable” due to the outbreak of war the previous week.

Since then, Equinor had one asset left to divest from, a stake in the Arctic Kharyaga oilfield, operated by Russia’s Zarubezhneft and in which TotalEnergies is a partner.

“Equinor can now confirm that the full exit from Kharyaga has also been completed,” Equinor said in a statement.

“Following the exit from Kharyaga, Equinor has no remaining assets or projects in Russia.”