Shell resumed buying Russian oil, tempted by a record discount

05 March 2022, 07:35 | Economy
photo Зеркало недели
Text Size:

European oil giant Shell Plc bought a batch of Russian Urals oil at a record discount and thus demonstrated its readiness to buy energy resources from Russia, despite the aggression against Ukraine. Bloomberg writes about it..

The price of Russian oil for Shell was $28.45 per barrel lower than the Dated Brent benchmark. The batch was sold by the international oil trader Trafigura. The cargo was purchased with delivery, meaning Shell would not have to worry about transporting this oil..

For comparison, in February, Urals oil traded above Brent, which cost about $93.. That is, the discount is about 30%.

It is noted that the deal could be a turning point for the oil market.

On the one hand, it fixes a significant discount at which Russian oil will be sold, but on the other hand, it is the first evidence that there will be buyers for Urals, despite the military intervention.

Rosneft is going to soon hold a huge tender for the sale of 83 million barrels of oil with deliveries in April-October. The Shell agreement is not related to this tender, but it provides a price target for Russian oil..

[see_also ids\u003d"

Earlier it became known that Biden allows an embargo on Russian oil, although there are risks.




Add a comment
:D :lol: :-) ;-) 8) :-| :-* :oops: :sad: :cry: :o :-? :-x :eek: :zzz :P :roll: :sigh:
 Enter the correct answer