Finance
Shell wants to dissolve Rosneft JV through which it holds CPC stake, source says
Published by Global Banking & Finance Review®
Posted on December 10, 2025
1 min readLast updated: January 20, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on December 10, 2025
1 min readLast updated: January 20, 2026
Shell plans to dissolve its joint venture with Rosneft, affecting its stake in the Caspian Pipeline Consortium amid U.S. sanctions on Rosneft.
LONDON, Dec 10 (Reuters) - Shell wants to dissolve a joint venture with Russia's Rosneft, through which the London-listed group holds part of its stake in the Caspian Pipeline Consortium, a source with direct knowledge of the matter said on Wednesday.
The United States imposed sanctions on Rosneft in October over Russia's war in Ukraine. Russian President Vladimir Putin issued a decree on Monday clearing potential deals with Rosneft and Shell's joint-venture stake in the CPC, which exports oil mainly from Kazakhstan.
Shell holds a total of around 7.4% in the CPC via three entities, one of which is the Rosneft-Shell Caspian Ventures vehicle. The vehicle itself holds 7.5% of the CPC, and Shell owns around half of the vehicle, amounting to a roughly 3.7% stake.
Shell wants to maintain the size of its overall stake in the CPC, the source added.
(Reporting by Shadia Nasralla; Editing by Kirsten Donovan)
A joint venture is a business arrangement where two or more parties agree to pool their resources for a specific project or business activity, sharing profits, losses, and control.
The Caspian Pipeline Consortium is a major oil pipeline that transports crude oil from Kazakhstan to the Black Sea, facilitating international oil trade.
A stake in a company refers to the ownership interest or share that an individual or entity holds in that company, often represented as a percentage.
Rosneft is a Russian state-owned oil company, one of the largest producers of oil and gas in the world, involved in exploration, production, and refining.
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