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Evening Standard
Evening Standard
Business
Simon Freeman

Shell faces pressure over Gazprom after rival BP pulls plug on $25bn Russia assets

British Petroleum Russia Shell Gazprom Rosneft Kremlin

ENERGY giant BP’s decision to sever links with Kremlin-controlled Rosneft has piled pressure on other oil majors to follow suit, with FTSE 100 rival Shell facing calls to dump its Russian assets.

BP’s share price plunged by 7.5% today, despite a surge in Brent Crude and natural gas prices, as investors were taken by surprise at its decision to abandon a 20% holding in the state-run oil company, ending a lucrative 30-year association with Russia.

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