Equinor and Shell have announced they will stop trading in Russian oil
Equinor’s Russian retreat heightens self-sanctioning price spike fears
Consultancy Kpler suggests a slowdown in Russian flows might be about to show up in the data and is not priced in
Norway’s Equinor has joined fellow IOC Shell in deciding to stop trading in Russian oil. The firm will not enter any new trades or engage in transport of oil and oil products from Russia, although it will continue to receive cargoes bought before Russia’s invasion of Ukraine. Equinor’s principled stance is to be applauded. But cargo tracking firm Kpler warns that so-called ‘self-sanctioning’, where companies either publicly or privately quit trading in Russian barrels, has yet to show up in trade flow data. If and when it does—potentially from later this week— “it is hard to see how crude oil prices are not being under-priced”, in Kpler’s view. Equinor’s ongoing commitments include contracts
Also in this section
17 February 2026
The 25th WPC Energy Congress, taking place in Riyadh, Saudi Arabia from 26–30 April 2026, will bring together leaders from the political, industrial, financial and technology sectors under the unifying theme “Pathways to an Energy Future for All”
17 February 2026
Siemens Energy has been active in the Kingdom for nearly a century, evolving over that time from a project-based foreign supplier to a locally operating multi-national company with its own domestic supply chain and workforce
17 February 2026
Eni’s chief operating officer for global natural resources, Guido Brusco, takes stock of the company’s key achievements over the past year, and what differentiates its strategy from those of its peers in the LNG sector and beyond
16 February 2026
As the third wave of global LNG arrives, Wood Mackenzie’s director for Europe gas and LNG, Tom Marzec-Manser, discusses with Petroleum Economist the outlook for Europe’s gas market in 2026
