Click here to view original web page at www.dailywire.com
Scott Barbour/Getty Images British oil company Shell admitted that it purchased a cargo of oil Saturday, even after it divested from large shares in the Russian energy industry amid Russia’s invasion of Ukraine.
The Wall Street Journal first reported Friday that the energy titan purchased a shipload of Urals crude oil, about 100 metric tons’ worth, from an oil broker called Trafigura Group Pte. Ltd, which the Journal identified as one of the largest commodity traders and one of the largest Russian oil exporters. The Journal also reported that Shell obtained the oil at a record discount. The Trafigura Group failed to sell the cargo, so Shell was able to purchase it for $28.50 below the standard Brent crude price per barrel, the largest discount on record. The Brent price closed on Friday at just over $118 per barrel, according to Nasdaq .
While the U.S. and its Western allies have mostly left out the Russian energy sector in their sanctions campaign against Russia, oil refiners have reportedly completely cut off Russian crude oil because they could not find funding to buy Russian oil, nor ships to carry it. The embargo has led to a backup in the Russian supply chain, which has, in turn, led to producers scaling back operations. However, WSJ reported, citing a source close to Shell’s trading strategy, that the company was using Russian oil to plug gaps in the oil supply chain while it seeks out alternative sources of supply.
In a statement posted to Twitter from its official account, Shell said that it purchased the oil in order to prevent a disruption in the oil supply, confirming WSJ reporting. “Yesterday we made the difficult decision to purchase a cargo of Russian crude oil,” Shell said in a statement. “Our refineries produce petrol and diesel as well […]
They’re Trying to Shut Us Down
Over the last several months, I’ve lost count of how many times the powers-that-be have tried to shut us down. They’ve sent hackers at us, forcing us to take extreme measures on web security. They sent attorneys after us, but thankfully we’re not easily intimidated by baseless accusations or threats. They’ve even gone so far as to make physical threats. Those can actually be a bit worrisome but Remington has me covered.
For us to continue to deliver the truth that Americans need to read and hear, we ask you, our amazing audience, for financial assistance. We have a Giving Fuel page to help us pay the bills. It’s brand new so don’t be discouraged by the lack of donations there. It’s a funny reality that the fewer the donations that have been made, the less likely people are willing to donate to it. One would think this is counterintuitive, but sometimes people are skeptical because they think that perhaps there’s a reason others haven’t been donating. In our situation, we’re just getting started so please don’t be shy if you have the means to help.
Thank you and God bless!
JD Rucker