Shell to Dissolve CPC Pipeline JV With Rosneft But Keep Stake

Shell Plc is planning to dissolve a partnership with Russia’s Rosneft PJSC through which the two oil giants jointly own a stake in a pipeline from Kazakhstan.

If the process is successful, Shell will still keep the stake in the Caspian Pipeline Consortium — rather than own it jointly with the sanctioned Russian energy giant, people with knowledge of the matter said, asking not to be identified because the matter is not public.