Oil giant Shell apologized on Tuesday for buying a shipment of Russian oil at a big discount after Russia’s invasion of Ukraine, while announcing that it was withdrawing from all Russian hydrocarbon projects.
“As an immediate first step, the company will stop all spot purchases of Russian crude oil. It will also close gas stations, as well as aviation fuel and lubricant services in Russia,” the company said in a statement, according to CNBC.
It is recalled that on Friday, Shell bought 100,000 metric tons of crude oil from Russia. It reportedly acquired the quantity at an excessive discount, at a time when many other companies are “boycotting” Russian oil due to Moscow’s unprovoked invasion of Ukraine, as the market does not intend to violate Western sanctions.
The company has been widely criticized for the market, including by Ukrainian Foreign Minister Dmitry Kuleba, who has called on all companies to sever all business ties with Russia.
Shell CEO Ben van Bourdain said on Tuesday that the company was “fully aware that our decision last week to buy a shipment of Russian crude oil for refining products such as petrol and diesel – despite the fact that “Security of supplies – it was not right and we’re sorry.”
Shell has already said it intends to pull out of its joint ventures with Russian gas giant Gazprom and its affiliates and said at the weekend that it would freeze profits from Russian oil it acquired at a discount in a humanitarian aid fund. for Ukraine.
Source: Capital
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