Instant news 24/7

Shell has said that it would no longer purchase Russian crude oil and has issued an apology.

1 min read

Shell apologized on Tuesday for buying Russian crude oil last week and said it will end any participation with Russian hydrocarbons as a result of the country’s invasion of Ukraine.
All of the British energy giant’s Russian businesses will be shut down, including the flagship Sakhalin 2 LNG project, in which it owns a 27.5 percent share and which is 50% owned by Russian gas giant Gazprom. Traders claimed on Friday that Shell purchased a shipment of Russian crude oil from Swiss broker Trafigura in the S&P Global Platts market shipping from Baltic ports for a record low of dated Brent minus $28.50 a barrel. However, it was one of the few Western firms to continue importing crude oil from Russia during the Ukraine crisis.

Leave a Reply