After taking a barrage of criticism for buying a cargo of Russian crude, Europe’s largest oil company Shell says it’s navigating the market with government guidance. “We will continue to choose alternatives to Russian oil wherever possible, but this cannot happen overnight because of how significant Russia is to global supply,” Shell said in a statement on Saturday. An official at the UK’s Department for Business, Energy & Industrial Strategy declined to comment. “Without an uninterrupted supply of crude oil to refineries, the energy industry cannot assure continued provision of essential products to people across Europe over the weeks ahead,” it said. “Cargoes from alternative sources would not have arrived in time to avoid disruptions to market supply.”

Source: News 24 March 06, 2022 08:21 UTC