Oil Companies, , Including Shell and BP, , Abandon Russia.br CNN reports that Shell announced it would br abandon its joint ventures with Gazprom, br including its role in the Nord Stream 2 pipeline. .br CNN reports that Shell announced it would br abandon its joint ventures with Gazprom, br including its role in the Nord Stream 2 pipeline. .br We are shocked by the loss of life br in Ukraine, which we deplore, br resulting from a senseless act br of military aggression which br threatens European security, Ben van Beurden, Shell (RDSA) CEO, via CNN.br The announcement by Shell comes one day br after BP similarly announced that it would be br ending its investment in Russia's Rosneft. .br The announcement by Shell comes one day br after BP similarly announced that it would be br ending its investment in Russia's Rosneft. .br According to analysts, the decision br could cost BP over $26 billion. .br Shell's interests in Russia were br reportedly valued at $3 billion. .br Our decision to exit is one we br take with conviction. We cannot — br and we will not — stand by, Ben van Beurden, Shell (RDSA) CEO, via CNN.br CNN reports that Shell was also providing br 50 of the financing for the construction br of Gazprom's Nord Stream 2 pipeline. .br CNN reports that Shell was also providing br 50 of the financing for the construction br of Gazprom's Nord Stream 2 pipeline. .br Other international oil and gas companies br have taken similar action, including Norway's Equinor, br which will also exit their ventures with Russia. .br We are all deeply troubled br by the invasion of Ukraine,br which represents a terrible br setback for the world, Anders Opedal, president and CEO of Equinor, via CNN.br According to Equinor, br the company had $1.2 billion br invested in Russia at the end of 2021. .br CNN reports that France's TotalEnergies also condemned Russia's invasion of Ukraine and said that it would no longer invest in Russian projects.