Shell announces that it will stop buying gas and oil from Russia and will close its gas stations for invading Ukraine

The company shell stop buying gas and oil from Russia and will close its gas stations in that country, as announced this Tuesday in a statement in which it also presented its “apologies” for having acquired Russian hydrocarbons after the invasion of Ukraine.

“shell announces its intention to withdraw from its involvement in all Russian hydrocarbons, including crude oil, petroleum products, gas and liquefied natural gas, in a phased manner, in line with (British) Government guidelines.”the company noted.

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As a first “immediate” measure, Shell will stop buying crude oil in cash and will close all its service stations and its operations with aviation fuels and lubricants in Russia.

Last February 28, shell he had already announced that he will abandon all the joint projects he has with the Russian giant Gazpromwhich will give up its 27.5% stake in the Sakhalin-II liquefied natural gas facility, as well as 50% in the Salym and Gydan oil projects in Siberia, and which terminates its participation in the Russian- German Nord Stream 2.

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“We are acutely aware that our decision last week to purchase a shipment of Russian crude to be refined into gasoline and diesel … was not the appropriate one and we apologize.” said today the CEO of the firm, Ben van Beurden.

The official indicated that they will allocate the profits from the remaining Russian oil that they still have to a fund to help the victims of the war.

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For Van Beurden, the challenges facing the sector “highlight the dilemma between putting pressure on the Russian government for its atrocities in Ukraine and guarantee stable and secure energy supplies throughout Europe”.

Ultimately, the CEO of shellit will be up to governments to decide on the “incredibly difficult sacrifices” that will have to be made during the war in Ukraine.

Shell shares on the Euronext market were trading slightly lower today and fell 0.5% to 23.8 euros.

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Source: Elcomercio

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