Ukraine crisis: Shell moves away from Russian oil and gas, to shut service stations
The British company said it will change its crude oil supply chain ‘as fast as possible’
Shell on Tuesday apologised for buying Russian crude oil last week and said it would withdraw completely from any involvement in Russian hydrocarbons over the country’s attack on Ukraine.
“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,” Shell CEO Ben van Beurden said.
The British energy major said it would change its crude oil supply chain to remove volumes from the sanctions-hit country “as fast as possible” and shut its service stations, and aviation fuels and lubricants operations in Russia.
The company said the change could take weeks to complete and will lead to reduced throughput at some of its refineries.