Tags: shell oil | russian crude oil | ukraine war

Shell Buys Cargo of Russian Crude at Discount

Shell
The Shell logo appears above a trading post on the floor of the New York Stock Exchange, on Dec. 1, 2021. (AP)

Friday, 04 March 2022 12:30 PM EST

Shell bought a cargo of Russian crude oil from Swiss trader Trafigura in S&P Global Platts window loading from Baltic ports at dated Brent minus $28.50 a barrel, traders said on Friday.

First Purchase of Russian Crude

The cargo is due to load March 14-18 and is the first Russian crude deal in weeks to be seen in the window and the first since trade of Russian crude since the invasion of Ukraine began last week.

Russian exporters have faced severe problems with credit lines, shipping and insurance in recent days resulting in Russian sell tender delays and cancellations.

"We currently purchase it and other Russian products for some refineries and chemical plants to ensure that we continue the production of essential fuels and products that people and businesses rely on every day," a spokesman for Shell said.

Fewer Russian Oil Purchases

"We will further reduce our use of Russian oil as alternative crudes become available to buy...in the current, tight market there is a relative lack of alternatives."

Shell said on Monday it will exit all its Russian operations, including a major liquefied natural gas plant, in line with moves by other major Western energy companies following the invasion.

Trafigura that holds a passive stake in a major upstream project in Russia said it was reviewing its operations and froze further investment.

© 2026 Thomson/Reuters. All rights reserved.


StreetTalk
Shell bought a cargo of Russian crude oil from Swiss trader Trafigura in S&P Global Platts window loading from Baltic ports at dated Brent minus $28.50 a barrel, traders said on Friday.
shell oil, russian crude oil, ukraine war
223
2022-30-04
Friday, 04 March 2022 12:30 PM
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