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
2 April 2026
Alongside a rapid continued build-out of renewables, China’s latest five-year plan stresses the value of domestic hydrocarbon production for energy security and calls for increased Russian gas imports
2 April 2026
The government is taking important steps to revive domestic production, lift investment and benefit from the geopolitical crisis even if more needs to be done in the longer term
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
