Shell Russia sells over 400 petrol stations to oil rival

Published

4 years ago

May 13, 2022

Brittany Coles

Energy giant Shell has agreed to sell more than 400 of its petrol stations in Russia

The lucky buyer of the stations is the country’s second largest oil producer, Lukoil

Shell in Russia will be sold for an undisclosed sum.

Many Western oil and gas firms have been looking to offload their Russian businesses following the country’s invasion of Ukraine.

Shell says be selling 411 petrol stations, it will protect 350 jobs

This comes as no surprise, as back in February, shell said it would sell its Russian assets because of the invasion of Ukraine.

Energy firms continue to benefit from surging oil and gas prices.

In the first three months of this year, Shell made just over $9 billion – nearly triple its $3 billion profit it announced for the same period last year.

But the firm said pulling out of Russian deals, had cost it almost $4 billion.

Related Topics:Business Politics russia shell trending ukraine

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US dollar strength hits NZ dollar amid FX market shifts

US dollar rises amid strong US growth; New Zealand faces pressure as traders navigate volatile FX and geopolitical impacts.

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18 hours ago

February 20, 2026

Harvey Vargas

US dollar rises amid strong US growth; New Zealand faces pressure as traders navigate volatile FX and geopolitical impacts.

The US dollar is surging as strong economic growth in the United States contrasts with softer conditions in New Zealand. Policy divergence and complex global FX factors are putting pressure on the New Zealand dollar, leaving traders navigating choppy waters.

Steve Gopalan from SkandaFX breaks down how US interest rates are influencing key currency pairs like USD/JPY, and explains why hedging flows are crucial in today’s volatile environment.

We also explore the ripple effects of geopolitical tensions on oil and broader markets, while examining the Australian labour market’s role in shaping the Reserve Bank of Australia’s monetary policy.

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Oil hits seven-month high, and gold surpasses $5,000 amid US-Iran tensions

Oil prices hit seven-month high amid U.S.-Iran tensions; experts analyze impacts on global economy and energy markets.

Published

19 hours ago

February 20, 2026

Harvey Vargas

Oil prices hit seven-month high amid U.S.-Iran tensions; experts analyze impacts on global economy and energy markets.

Oil prices have surged to a seven-month high as escalating tensions between the U.S. and Iran spark fears of global supply disruptions. The Strait of Hormuz remains a flashpoint, with analysts closely monitoring potential military actions that could further strain energy markets.

Investors are reacting to geopolitical uncertainty, with oil markets pricing in heightened risk.

Kyle Rodda from Capital.com joins us to discuss what is driving these record-breaking price movements and the potential implications for the global economy.

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Australia jobs, market trends, and tariff ruling: What investors need to know

Australia’s jobs report shapes rate forecasts, with cyclical assets favored amid market volatility and upcoming Supreme Court rulings on tariffs.

Published

2 days ago

February 19, 2026

Harvey Vargas

Australia’s jobs report shapes rate forecasts, with cyclical assets favored amid market volatility and upcoming Supreme Court rulings on tariffs.

Australia’s latest jobs report is shaping market expectations and interest rate forecasts. Strong employment growth could boost confidence in the economy, while weaker data might prompt a rethink of monetary policy.

Investors are favouring cyclical assets over growth stocks, targeting sectors like industrials, materials, and energy. David Scutt from StoneX notes this reflects both caution amid market volatility and a bet on areas tied to economic cycles.

Meanwhile, the upcoming Supreme Court ruling on Trump’s reciprocal tariffs could significantly impact markets, yet many are overlooking its potential effects on trade, commodity prices, and sector valuations. Investors should prepare for possible volatility and adjust strategies accordingly.

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