16:28 05.03.2022

Naftogaz calls on largest oilfield service companies to withdraw from Russian energy projects in response to its military aggression

2 min read

NJSC Naftogaz Ukrainy calls on the "big four" oilfield services companies Schlumberger, Weatherford, Halliburton, Baker Hughes, as well as technology and equipment suppliers to follow the world's largest oil and gas companies out of Russian energy projects.

"We are grateful to the international community, which has finally put an end to Nord Stream 2. We also support the quick and only correct reaction of BP, Shell, Equinor, Exxon, and TotalEnergies, which expressed their support for Ukraine and curtail their energy projects in Russia in response to its unjustified aggression. We are confident that all other international companies involved in Russian oil and gas projects that share civilized European values should follow the same path. Today natural gas is a weapon against Ukraine, tomorrow it can become a weapon against the whole world," according to Board Chairman of Naftogaz Yuriy Vitrenko, whose words are quoted in the company's message on Saturday.

The report emphasizes that the withdrawal of international companies from Russian projects will significantly weaken the technological potential of the Russian oil and gas industry.

"Together with financial, trading and other sanctions that are already being applied by governments and separate companies of different countries, this will weaken the dominant position of the aggressor country in the European gas market. And this is critically important not only for protecting Ukraine, against which Russia has decided an unprecedented open war, but also for the security of entire Europe," Naftogaz stressed.

At the same time, the company drew attention to the fact that it continues the legal struggle against the Russian gas monopoly, in particular, actively interacts with the antimonopoly body of the European Commission on Gazprom's abuses in the European gas market, and an arbitration tribunal initiated by the company in The Hague began hearings on Russia's compensation for the losses caused to Naftogaz as a result of the annexation of its assets in Crimea.

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