High energy prices leave oil giants untroubled by Russia exit or tax hints

[Yo_Mama_Been_Loggin]

“May you live in interesting times,” runs the saying, supposedly an English translation of an ancient Chinese curse.

For BP and Shell, the British companies that account for two of the world’s seven oil “supermajors”, the first quarter of 2022 has been painfully fascinating.

Both were heavily enmeshed in Russia and now face having to write down a combined £24bn on the value of their businesses, after cutting ties with the Kremlin.

Shell is expected to take a hit of £3.5bn due to its decision to exit its joint venture with Gazprom, Russia’s state gas giant, including its stake in the Sakhalin-2 gas project. BP accounts for the lion’s share of the eye-watering sum, due to its 20% stake in state oil firm Rosneft.

https://www.msn.com/en-us/money/markets/high-energy-prices-leave-oil-giants-untroubled-by-russia-exit-or-tax-hints/ar-AAWMUuw

[kimbutgar]

1. So because of this republicans are going to take over congress when it's not really President

Biden’s fault! All over the world they are suffering high gas prices.

[rockfordfile]

2. Republican oil companies are price gouging and are having record setting profits.

[Tickle]

3. They want us to

beg them to drill and make it profitable