The oil industry, including companies BP, Shell, and TotalEnergies, was the industry that suffered the greatest financial losses from leaving Russia, an analysis by the Financial Times has revealed. Out of total losses of some 100 billion euro, or some $110 billion, the losses incurred by Big Oil majors account for about 40%.
Next were utilities, which account for over 15% of the total losses. BP last year booked an impairment cost of $24 billion on its Russian business after it left the country. The supermajor had a minority stake…Oil Majors Face $110 Billion In Losses After Russia Exit
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