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Shell to stop buying Russian crude oil, gas over Ukraine invasion

Shell has apologised for buying Russian crude oil last week and said it would withdraw completely...

👤 H K Badal8 March 2022 4:00 PM GMT
Shell to stop buying Russian crude oil, gas over Ukraine invasion
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Shell has apologised for buying Russian crude oil last week and said it would withdraw completely from any involvement in Russian hydrocarbons over the country's invasion of Ukraine.

"We are acutely aware that our decision last week to purchase a cargo of Russian crude oil … was not the right one and we are sorry," Shell Chief Executive Officer Ben van Beurden said on Mar 8.

Shell bought a cargo of Russian crude oil from Swiss trader Trafigura in S&P Global Platts window loading from Baltic ports at a record low of dated Brent minus $28.50 a barrel, traders said on Mar 7.