Shell refuses to participate in all oil and gas projects in Russia-NEWS.RU
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Shell has announced its intention to withdraw from all oil and gas projects in Russia. First of all, it will stop spot purchases of oil, according to a press release on the official website.
As an immediate first step, the company will stop all spot purchases of Russian crude oil .
The company said it would refuse to renew all fixed-term contracts with the Russian side and reorient supply chains to “exclude Russian volumes.” At the same time, Shell acknowledged that this could take weeks and allowed for a decrease in productivity at some refineries.
In addition, the company will close its service stations, production of aviation fuel and lubricants in Russia. This process will start immediately.
Mar 9, 2022