Shell (SHEL) intends to end a partnership with Russia's Rosneft via which the two companies jointly own a stake in a pipeline from Kazakhstan, Bloomberg reported Wednesday, quoting unnamed sources.
If the process is completed, Shell would still keep the stake in the Caspian Pipeline Consortium, instead of owning it jointly with Rosneft, the report said.
Shell committed in 2022 to withdraw from Russian oil and gas projects because of the war in Ukraine, the report said.
Shell didn't immediately respond to a request for comment by MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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