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Shell Buys Russia’s Flagship Urals Oil at a Record Discount

  • Shell previously said it still purchasing Russian oil and gas
  • Some traders, tanker companies have been wary of Russian oil
Royal Dutch Shell Plc Pernis Oil Refinery Ahead of Earnings
Photographer: Peter Boer/Bloomberg
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Shell Plc, Europe’s largest oil company, bought a cargo of Russia’s flagship crude at a record discount, underscoring the company’s decision to keep buying supplies from the country after its invasion of Ukraine.

The company paid about $28.50 a barrel below Dated Brent, a benchmark for physical oil trades globally, taking the cargo from Trafigura Group. The cargo has been bought on a delivered basis, meaning Shell won’t need to sort out transportation.