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RUSSIAN INVASION: Shell Set To Withdraw Oil Projects From Russia.

UK- Shell, the Dutch petroleum giant, announced on Tuesday its intention to withdraw gradually from all oil and gas projects in Russia.

As a first step, it stated that it would suspend all spot purchases of Russian oil.

“Shell today announced its intent to withdraw from its involvement in all Russian hydrocarbons, including crude oil, petroleum products, gas and liquefied natural gas (LNG) in a phased manner, aligned with new government guidance.

READ ALSO: RUSSIAN INVASION: Biden Bans Russia Oil Imports To US, Says Putin Won’t Win

“As an immediate first step, the company will stop all spot purchases of Russian crude oil.

“ It will also shut its service stations, aviation fuels and lubricants operations in Russia,” the company said in a statement.

On February 28, the energy behemoth announced its decision to exit joint ventures with Gazprom and Gazprom Neft, including the Sakhalin 2 project, as well as its participation in the Nord Stream 2 gas pipeline project.

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