Shell plc (Shell) Tuesday announced its intent to withdraw from its involvement in all Russian hydrocarbons, including crude oil, petroleum products, gas and liquefied natural gas (LNG) in a phased manner, aligned with new government guidance.
The oil giant said ”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.”
“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,” Mr van Beurden said.
The company said it will immediately stop purchasing Russian crude oil and will shut service stations, as well as stopping its aviation fuel and lubricant operations in the country.
The rest of the company’s exit from Russian oil and gas is expected to take some time.
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