Shell makes ‘tough’ decision to buy Russian crude oil, vows to buy elsewhere ‘whenever possible’

Shell Oil The company released a statement on Saturday saying it was “shocked” RussiaInvasion of Ukraine It will do what it can to avoid buying oil from Russia.

“We are shocked by the war in Ukraine. We have already made clear our intention to withdraw from the joint venture with Gazprom, which is owned by the majority of the Russian government – and the relevant companies, as well as to end our involvement with a significant project.

Russian President Vladimir Putin (Via Yuri Koshetkov / Pool Photo AP / AP Newsroom)

Despite the negative impact on Tesla, Elon Musk called on the United States to increase oil and gas production to combat Russia.

Company Announced Earlier this week it severed ties with Cosprom.

In that statement, Shell acknowledged its recent purchase of crude oil from Russia and said it would be seen as a controversial move.

“Yesterday we made the difficult decision to buy a consignment of Russian crude oil,” Shell said. “Our refineries produce petrol and diesel and other commodities on which they depend on every day. Would not have come. “

File photo: A shell logo reflected on a car’s windshield at a gas station in west London. (Reuters / Reuters photos)

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The company said it was “not taking this decision lightly” and would do its best to avoid buying oil from Russia in the future.

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“Whenever possible we will select alternatives to Russian oil, but this will not happen overnight because of Russia’s importance in global distribution,” the statement added. “We are in serious talks with governments, following their guidance on this issue of supply security, and we are well aware that this dilemma must be handled with the utmost care. We welcome any direction or insight from governments and policymakers. Try to move Europe and keep it in business.”

The company also said it would donate future profits from Russian oil to a “commitment fund” to support the Ukrainian people.

Civil defense volunteers load humanitarian aid to victims of Russian invasion in a truck (AP Photo / Michael Euler)

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“We will work in the coming days and weeks with relief partners and humanitarian agents to mitigate the devastating effects of this war on the people of Ukraine and determine where the money from this fund is best placed.

Shell’s statement follows BP Oil’s announcement Said It will drop its 19.75% stake in Russian energy company Rosneft.

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