March 15 (LNGJ) - Norwegian energy company Equinor, whose Hammerfest LNG plant comes back on stream in mid-May 2022, has decided to stop all trading in Russian oil after previously quitting projects with Russia’s Rosneft that will lead to earnings impairments. “This means that Equinor will not enter any new trades or engage in the transporting of oil and oil products from Russia,” said Equinor.
However, the company pointed out that it had certain contractual commitments arising out of contracts entered into prior to the invasion of Ukraine. These include contracts signed in January this year under which Equinor would receive four oil cargoes in March. “Two of these have been sold on to customers in Asia. The third is a naphtha cargo that will be delivered to an Equinor contracted storage facility. The fourth is a feedstock cargo to be delivered to the Mongstad refinery in Norway,” said the company. Equinor noted that receiving these cargoes is in full compliance with current sanctions.
