Shell. Us, Europe's largest oil company, bought a batch of Russian flagship crude oil at a record discount. According to media reports, the delivery price is $28.50 lower than the benchmark Brent crude oil price in the global spot oil trading. The goods were purchased from Trafigura group on the basis of delivery (distribution form), which means that shell does not need to deal with transportation problems.
Shell will continue to buy oil and gas from Russia, a person familiar with the matter said on Wednesday. The person familiar with the matter said that shell was discussing with governments and would comply with any regulatory changes in the regulatory provisions. In a series of tweets on Friday, the company said it was buying Russian crude oil to maintain its customers' fuel supply, and said shell would reduce its purchases as alternative crude oil varieties appeared.
"We are currently purchasing Russian products for some refineries and chemical plants to ensure that we can continue to provide basic fuels and products that people and businesses rely on," shell wrote in a tweet
can the super low price attract more buyers
This decision is a critical moment for the oil market. So far, governments have not banned Russian oil and gas, fearing that this will lead to a sharp rise in energy prices. Shell is one of the world's largest oil traders, and its purchase may be regarded as a symbolic act by other oil companies in the market.
This is the first such transaction organized by the S & P global Platts platform since Russia's military action against Ukraine. Although this highlights that Russia will have to sell crude oil at a substantial discount, it also shows that it can still find dependent and willing buyers in the market.
Rosneft oil, Russia's largest oil company, is trying to complete a large bid to sell crude oil. The company is bidding to sell up to 83 million barrels of Ural oil from April to October. Shell's acquisition has nothing to do with this bidding, but it will let the market know the selling price of crude oil in Russia after unprecedented sanctions by western countries.
After the introduction of self-made cutting measures, Russian ural crude oil has been seeking to sell at a much lower price than Brent crude oil, and did not attract buyers until Friday. Consulting firm energy aspects said last week that even if the price is greatly discounted, it is still difficult to find buyers for nearly 70% of Russian crude oil.
