Pause operations: company temporarily curtailing operations while keeping return options open
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Wintershall Dea AG

Wintershall Dea AG
Wintershall is the largest German gas and oil company.
Pause operations: company temporarily curtailing operations while keeping return options open
Leave SuspensionTop 100 largest companies in Russia by revenue
Top 100Glob.Revenue, mln.USD
5338
The Wintershall Dea Supervisory Board approved a principle decision by the Management Board to exit Russia. As a consequence, Wintershall Dea intends to fully exit Russia in an orderly manner complying with all applicable laws and regulations. Intends to fully exit Russia, write off $1.1 billion investments in Russia. "We no longer see prospects for energy cooperation with Russia in the foreseeable future. Our decision is final. We have started to take appropriate steps in recent weeks. We started the process of closing our office in St. Petersburg, reducing the number of our local colleagues. We also returned our expatriated colleagues from Russia back to their home jurisdictions. We are also considering various options for exiting assets," said the head of Wintershall Dea, Mario Meren. But exiting Russia gets harder by the day.
The Company Statement
July 27, 2023
Wintershall Dea will exit Russia: Wintershall Dea to deconsolidate Russian segment from financial reporting and to record one-off non-cash charge of €5.3 billion in the fourth quarter relating to the deconsolidation as well as other Russia-related impairments. Significant financial flexibility maintained. Wintershall Dea Joint Ventures in Russia economically expropriated. Wintershall Dea intends to fully exit Russia in an orderly manner complying with all applicable legal obligations. German Wintershall Dea completely wrote off its share in the Nord Stream operator due to the impossibility of estimating the terms and costs of restoring the damaged gas pipeline against the background of geopolitics, the company's report says. Wintershall Dea will cut some 500 jobs, or roughly a quarter of its staff, in a separation of its Russian activities.
September 11, 2023 | Putin extended the ban on gas purchases from a joint venture with OMV and Wintershall above the established price |
September 05, 2023 | Wintershall Dea axes quarter of jobs as Russia exit nears |
September 05, 2023 | Wintershall Dea will complete the separation of the international business from the joint venture with the Russian Federation by mid-2024 |
August 06, 2023 | European companies suffer €100bn hit from Russia operations |
June 26, 2023 | The miser pays thrice. Western companies clinging to Russia are losing markets, business and reputation |
June 23, 2023 | The miser pays three times. How Western companies clinging to Russia lose markets, business and reputation |
April 28, 2023 | Exposing the connections between Wintershall’s Siberian gas fields and Russia’s military supply chain |
April 26, 2023 | Wintershall Dea called the final decision to leave Russia |
February 22, 2023 | Putin banned Gazprom from buying gas from a joint venture with Wintershall Dea and OMV at a higher price than the regulated price |
January 25, 2023 | Ukrainian group demands full investigation on war crimes, after Spiegel/ZDF expose German government’s greenlighting of investment in Russia |
January 24, 2023 | Convinced that Wintershall has Ukrainian blood on his hands |
January 24, 2023 | Fuel for Russia's bombing campaign |
January 17, 2023 | Gazprom's largest European partner is leaving Russia, recording a loss of more than 5 billion euros |
January 17, 2023 | Wintershall Dea will exit Russia |
December 23, 2022 | Gazprom's Trojan horse in the EU. How the German oil and gas giant Wintershall became a victim of the Russians |
December 17, 2022 | Wintershall Dea announced its intention to leave the Russian Federation after the introduction of regulation on the products of the joint venture |
November 04, 2022 | A German Company's Questionable Involvement in Russia |
March 02, 2022 | Wintershall Dea writes off financing of Nord Stream 2 |
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