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
6 February 2026
The long close relationship between key supplier Qatar and pivotal buyer Japan becomes even deeper following new landmark deal
6 February 2026
Partnerships across the LNG value chain have evolved over time, growing in both complexity and importance, according to panellists at LNG2026
6 February 2026
Nigeria's mega-refinery is still trying to solve many challenges, all while its owner talks up expansion
5 February 2026
While broadly supportive of EU efforts to tackle methane emissions, representatives of the gas industry warn it could deter supply contracting if timelines and compliance requirements are not made more pragmatic
