(Bloomberg) — 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.
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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.
Shell is continuing to buy oil and gas from Russia, a person with knowledge of the matter said on Wednesday. The company is in discussion with governments and will comply with any changes in regulations, the person said. In a series of Twitter posts on Friday, the company said it’s buying Russian supplies to maintain fuel deliveries to its customers, and that Shell will reduce purchases as…
