Wintershall Dea is exploring exit options in Russia – Kommersant
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The head of the German oil and gas company Wintershall Dea, Mario Mehren, said he sees no prospects for cooperation with Russia in the foreseeable future. According to him, the company is exploring available options to exit its Russian assets.
“We have begun the process of closing our office in St. Petersburg, reducing the number of our local colleagues. We have also returned our expatriate colleagues from Russia back to their home jurisdictions,” he said at a press conference (quoted from TASS).
As Mr. Meren clarified, Wintershall Dea is “considering various options for exiting assets” in the Russian Federation. However, this process is complicated because the Russian authorities “constantly create new barriers, obstacles and administrative procedures,” he said.
In January Wintershall Dea announced about the decision to leave Russia. The German company, together with Gazprom and the Austrian OMV, has been running the Severneftegazprom joint venture since 2007. The loss from the write-off of Russian assets in Wintershall Dea was estimated at € 5.3 billion. In February, the company reported about the loss of €2 billion of dividends from joint ventures in Russia.
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