In the last few days, Shell, the Anglo-Dutch oil and gas company, decided to withdraw from all joint projects and close its service stations in Russia. Western countries do not welcome cooperation with Russian companies.
Notably, Shell apologized for buying another cargo of Russian oil. "We made the difficult decision to purchase a cargo of Russian crude oil. Our refineries produce petro and diesel as well as other products that people rely on every day. To be clear, without an uninterrupted supply of crude oil to refineries, the energy industry can not assure the continued provision of essential products to people across Europe over the weeks ahead," the company said in a statement on its official website. The reason for buying oil was the possible supply disruption because cargoes from alternative sources would not be able to arrive in time. Shell announced that it would continue to look for alternatives to Russian oil whenever possible.
Later, amid the ongoing conflict, the company pledged it would completely stop buying Russian oil. In addition, Shell also ended its involvement in the Nord Stream 2 pipeline project and announced the closure of all service stations in Russia. As for the cargo already purchased, Shell representatives vowed to put any profits it makes from the purchase of Russian oil into a special fund to assist Ukrainians. Notably, the company bought Russian Urals crude from trader Trafigura at a record discount of $28.5 a barrel to Brent. According to traders, Shell will make a profit of about $20 million after refining and then selling the oil from this cargo.
