Shell To Cease Buying Russian Oil And Natural Gas

CNBC News reports:

Oil major Shell on Tuesday apologized for a buying a heavily discounted consignment of Russian oil and announced it was withdrawing from its involvement in all Russian hydrocarbons.

“As an immediate first step, the company will stop all spot purchases of Russian crude oil. It will also shut its service stations, aviation fuels and lubricants operations in Russia,” it said in a statement.

The company faced heavy criticism for the purchase, including from Ukraine’s Foreign Minister Dmytro Kuleba, who has urged companies to cut all business ties with Russia.

Read the full article.

“We are acutely aware that our decision last week to purchase a cargo of Russian crude oil to be refined into products — despite being made with security of supplies at the forefront of our thinking — was not the right one and we are sorry,” https://t.co/zvUswvBWDP

— Bianna Golodryga (@biannagolodryga) March 8, 2022

BREAKING: Shell says it will stop buying Russian oil and natural gas as well as shut down its service stations and other operations in the country amid international pressure for companies to sever ties over Moscow’s invasion of Ukraine. https://t.co/cC95JQUhfq

— The Associated Press (@AP) March 8, 2022