Shell to withdraw from Russian oil and gas
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, March 8
By Leman Zeynalova - Trend:
Shell plc (Shell) today 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, Trend reports.
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 to be refined into products like petrol
and diesel – despite being made with security of supplies at the
forefront of our thinking – was not the right one and we are sorry.
As we have already said, we will commit profits from the limited,
remaining amounts of Russian oil we will process to a dedicated
fund. We will work with aid partners and humanitarian agencies over
the coming days and weeks to determine where the monies from this
fund are best placed to alleviate the terrible consequences that
this war is having on the people of Ukraine,” said Shell Chief
Executive Officer, Ben van Beurden.
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