Wintershall cancels annual conference due to attacks on Ukraine

Wintershall dea

Wintershall cancels annual conference due to attacks on Ukraine. By Ana Paula Ferrer.

As a response to the current Russian attacks on Ukraine, Wintershall Dea, Germany’s leading oil company, made the decision of canceling its annual press conference. In their view, “today is not a day to talk about financial results.”

Mahrio Mehren, CEO of Wintwershall Dea, said: “The Russian President has ordered a military operation against Ukraine. We view this military escalation of the conflict with great concern and dismay. People are dying. We are shocked by what is happening!”

In addition, he emphasized that Chancellor Olaf Scholtz strongly condemned the action as a blatant breach of international law. An attack on the freedom and self-determination of a sovereign state.

Far-reaching consequences

Moreover, the CEO expressed that this latest military escalation also shakes the economic cooperation between Russia and Europe that has been built up over decades. That will have far-reaching consequences. To what extent cannot yet be foreseen.

“Wintershall Dea has been working in Russia for more than 30 years. Many of our colleagues work for our company and our joint ventures with partners from Russia on a daily basis. Many of our colleagues come from Russia or Ukraine. For them in particular, but also for all of us, this escalation on the orders of the Russian government is a hard blow.”

On Wednesday night, President Putin announced a “military operation,” launching a full-scale invasion in Ukraine. After full-tension weeks, Russian troops began to attack Ukraine by land, sea, and air. People began to report bomb explosions in its main cities, including its capital, Kyiv.

The consequences of this conflict do not only affect Ukraine or Russia. President Biden condemned Moscow’s actions and made clear that there will be a strong, united response from NATO allies.

On the other hand, UK Prime Minister Boris Johnson declared President Putin’s decision to attack as unprovoked. European leaders also stated that the Russian attacks are unjustified and that along with NATO, the allied countries are working on an immediate response.

Also recommended for you: Oil breaks the $100 ceiling after Russia attacks on Ukraine. Read here!

Oil prices peak

Oil prices jumped above $100 for the first time in more than seven years. With Brent crude futures reaching $105 per barrel.

Meanwhile, in New York WTI crude oil for March shoots up 8.66% to 100.10 dollars a barrel. Additionally, natural gas prices shot up 30% in European markets.

Related posts

EPRI launches initiative to help ensure Sufficient Electricity Supply


Oil balanced amid U.S stimulus, weak demand and hopes for vaccine recovery


EQT expands its presence in Marcellus Shale with $2.9B