Shell PLC said Tuesday that it intends to withdraw from Russian oil and gas in a phased manner in response to the invasion of Ukraine, including immediately halting all spot purchases of Russian crude.
The company also apologized for purchasing 100,000 metric tons of Russia’s Urals crude oil on Friday. It had purchased the oil for $28.50 a barrel less than benchmark crude prices, the Wall Street Journal reported. It said it would commit profits from Russian oil purchases to humanitarian funds to alleviate the crisis in Ukraine.
