[News] Shell defends 'difficult' decision to buy Russian crude oil, are they right? discuss

[pwlr1966]

McDonald's has announced it will temporarily close all restaurants and pause all operations in Russia.

The fast-food chain is hugely popular in Russia, with around 850 stores and 62,000 employees.

McDonald's had been facing growing criticism for not following many other food and drinks brands by pulling out of the country after the invasion of Ukraine.

In a statement, its CEO Chris Kempczinski says the conflict has "caused unspeakable suffering to innocent people" and "we join the world in condemning aggression and violence and praying for peace".


Or as I susspect this would affect their poularity and profits in the West, thoughts?

 

[portlock seagull]

McDonald's has announced it will temporarily close all restaurants and pause all operations in Russia.

The fast-food chain is hugely popular in Russia, with around 850 stores and 62,000 employees.

McDonald's had been facing growing criticism for not following many other food and drinks brands by pulling out of the country after the invasion of Ukraine.

In a statement, its CEO Chris Kempczinski says the conflict has "caused unspeakable suffering to innocent people" and "we join the world in condemning aggression and violence and praying for peace".


Or as I susspect this would affect their poularity and profits in the West, thoughts?

Is the key word ‘temporary’? When will they resume eg? In a week? A month?

 

[portlock seagull]

Too late.

Shell

Agree. No 2nd chances if they only changed after public pressure. They knew exactly what doing. It’s Esso, BP etc all the way for me! Do Shell provide Asda, Tesco etc? Anyone know who else is funding Putin?

 

[Swansman]

Agree. No 2nd chances if they only changed after public pressure. They knew exactly what doing. It’s Esso, BP etc all the way for me! Do Shell provide Asda, Tesco etc? Anyone know who else is funding Putin?

Well... a lot of those who use heating in their houses, wash their clothes, take showers, cook food and so on...

 

[beorhthelm]

Agree. No 2nd chances if they only changed after public pressure. They knew exactly what doing. It’s Esso, BP etc all the way for me! Do Shell provide Asda, Tesco etc? Anyone know who else is funding Putin?

as already noted Shell doesnt run any refinery in UK, none of the major oil companies do anymore. currently all the refineries have been turning away russian oil before the government announcment today.

 

[portlock seagull]

as already noted Shell doesnt run any refinery in UK, none of the major oil companies do anymore. currently all the refineries have been turning away russian oil before the government announcment today.

Thank you. As you can tell I know next to nothing about petroleum industry. So the only way I’m supporting Shell is if I go to one of their forecourts? (Which I won’t!)

 

[Wardy's twin]

Actually, that's exactly what should have happened. The amount of money wasted / lost by this government in recent years (e.g. £37 Billion on the Serco Track and Trace) would have funded support for every household to replace their boiler with an electric solution AND provide generous support to buy EVs. Both China (non-democratic) and Norway (democratic) did similar and the EV uptake has been amazing in both countries. Clearly they would have had to ensure the grid was capable of flexing to the demand this would add to the UK system, but it's doable, as long as the government wants to do it. I don't see this Tory government as one that has any interest in Net Zero or divesting our dependence on Russian oil & gas.

Pretty sure Norway are giving people 25% off the purchase price of an electric car...

 

[pwlr1966]

I have just received a reply from Shell ansd thought I would share it:

Shell Energy (Shell Energy)
Mar 10, 2022, 11:43 GMT
Hello,

I hope this email finds you well.

Shell announced on Tuesday 8th March, 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.

As an immediate first step, the company will stop all spot purchases of Russian crude oil. It will also shut our service stations, aviation fuels and lubricants operations in Russia.

We are appalled by the war in Ukraine and have already made clear our intention to exit joint ventures with Gazprom and related entities as well as intending to end our involvement with Nord Stream 2 and other projects.

We have been in constant discussion with governments about the consequences of the war on the security of energy supplies. We have acted in accordance with what we have understood was the intent to allow energy flows from Russia for the time being in order to provide security of energy supply.

Last week we made the difficult decision to purchase a cargo of Russian crude oil. Our refineries produce petrol and diesel as well as other products that people rely on every day. To be clear, without an uninterrupted supply of crude oil to refineries, the energy industry cannot assure continued provision of essential products to people across Europe over the weeks ahead. Cargoes from alternative sources would not have arrived in time to avoid disruptions to market supply.

We didn’t take this decision lightly and we understand the strength of feeling around it. We will continue to choose alternatives to Russian oil wherever possible, but this cannot happen overnight because of how significant Russia is to global supply. We have been in intense talks with governments and continue to follow their guidance around this issue of security of supply, and are acutely aware we have to navigate this dilemma with the utmost care. We welcome any direction or insights from governments and policymakers as we try to keep Europe moving and in business.

We will commit profits from the limited amount of Russian oil we have to purchase to a dedicated fund.

We will work with aid partners and humanitarian agencies over the coming days and weeks to determine where the monies from this fund are best placed to alleviate the terrible consequences that this war is having on the people of Ukraine.

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The Shell Energy Team