Shell Chief Executive Officer Ben van Beurden: “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." (file photo)
Important Takeaways:
- Energy Giant Shell Withdrawing From Russia, Will Stop Buying Moscow’s Oil And Gas
- The company had already announced it intends to end its involvement in the Nord Stream 2 pipeline project and exit its equity partnerships with Russia’s Gazprom and related entities, including its 27.5 percent stake in the Sakhalin-II liquefied natural gas facility, its 50 percent stake in the Salym Petroleum Development, and the Gydan energy venture.
- Dozens of companies, including major oil sector firms such as BP and Exxon, have said they are exiting Russia as the West imposes tight sanctions on Russia as punishment for its aggression against Ukraine.
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