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Author Topic: Shell purchasing Russian Oil  (Read 592 times)

Offline Jericoke

Shell purchasing Russian Oil
« on: March 07, 2022, 06:35:05 PM »
https://www.bbc.com/news/business-60638255?fbclid=IwAR2nAFAz8ZQn3YNfygL25lal9K1FugmAJmqMMucDMXvXxRql-h1JEzScyVI

Just when I was happy that Ferrari was FINALLY out of the clutches of nicotine sponsorship, now their major sponsor goes and buys a shipful of Russian oil.

It should be noted that of all the sanctions currently on Russia, it is still perfectly legal in most jurisdictions to purchase oil from Russia.

It's also perfectly legal to wonder why Ferrari would partner with someone doing business with Russia in 2022.



Offline lkjohnson1950

Re: Shell purchasing Russian Oil
« Reply #1 on: March 08, 2022, 02:00:41 AM »
Ferrari and Shell have been partners for decades. If Ferrari wants to end it they can, but it's not a new deal. I believe the US (or US companies) is still buying Russian Oil, unless something changed over the weekend.
Lonny

Offline cosworth151

Re: Shell purchasing Russian Oil
« Reply #2 on: March 08, 2022, 01:14:50 PM »
Coke, Pepsi & McDonalds (among many others) are still doing business with Russia, too. In big business, money trumps morality every time.

I don't think any nation has cut off Russian oil. So why is the price of gas skyrocketing? (See above paragraph)
“You can search the world over for the finer things, but you won't find a match for the American road and the creatures that live on it.”
― Bob Dylan

Offline Dare

"It's often said truth is the first casualty of war,"

Offline John S

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Re: Shell purchasing Russian Oil
« Reply #4 on: March 08, 2022, 03:56:32 PM »


I don't think any nation has cut off Russian oil. So why is the price of gas skyrocketing? (See above paragraph)

Think it was more to do with Saudi's saying they wont fill the gap, which they could easily do, if Russian oil banned by US & Europe. That was enough in the beginning to spook spot oil and futures price. What should be looked at more closely, I think, is who is making all the money pushing prices ever higher trading on the spot & futures markets - it's not necessarily producing countries or oil companies.   

Saudi's are clearly choosing solidarity of OPEC over any other consideration. Can't say I blame them as US administrations have always sought to control world oil trade, look at it's total embargo on Venezuelian oil which keeps the country in abject poverty, whislt Venezeula sits on probably the largest oil reserves in the world.

Games, so called, superpowers play in one part of the world resonates stongly with other states all round the globe leading to many of them to take selfish, and from our point of view unhelpful decisions. Couple this with OPEC members revenues being hit hard from huge pressure by green campaigners and surplus production in last 5 years with oil prices for many falling to, or even below, cost of production - especially during height of pandemic. Controlling supply has led to higher oil prices in general now as consumption ramps up, and will continue too so long as supply is kept in check from OPEC producers. From their point of view it's simple economics, not necessarily political comfort for any side. 
Racing is life - everything else is just waiting. (Steve McQueen)

Offline Dare

Re: Shell purchasing Russian Oil
« Reply #5 on: March 08, 2022, 09:30:26 PM »
I wonder at what point the approaching oil
crisis will effect the 2022 season.

Now Putin in threatening to cut off oil to Europe. Seems
to me like sanctions hurt the citizens as much as the countries
being sanctioned
"It's often said truth is the first casualty of war,"

Offline Jericoke

Re: Shell purchasing Russian Oil
« Reply #6 on: March 09, 2022, 01:41:35 PM »
I wonder at what point the approaching oil
crisis will effect the 2022 season.

Now Putin in threatening to cut off oil to Europe. Seems
to me like sanctions hurt the citizens as much as the countries
being sanctioned

That's the idea.  Sanctions aren't a great tool, but when the alternative is blowing people up, it's a much better option.

Offline lkjohnson1950

Re: Shell purchasing Russian Oil
« Reply #7 on: March 09, 2022, 05:38:52 PM »
There have been some demonstrations in Russia against the invasion which apparently surprised Putin. Don't know if it will affect his actions (I doubt it) but Russians are not 100% behind him as he expected.
Lonny

Offline Dare

Re: Shell purchasing Russian Oil
« Reply #8 on: March 09, 2022, 10:28:21 PM »
There have been some demonstrations in Russia against the invasion which apparently surprised Putin. Don't know if it will affect his actions (I doubt it) but Russians are not 100% behind him as he expected.

I thought I read last week that a law was passed last
week that protesters could receive a 15 year sentence.
So I guess he has been paying attention but life has no
meaning to him
"It's often said truth is the first casualty of war,"

Offline Andy B

Re: Shell purchasing Russian Oil
« Reply #9 on: March 09, 2022, 11:14:14 PM »
There have been some demonstrations in Russia against the invasion which apparently surprised Putin. Don't know if it will affect his actions (I doubt it) but Russians are not 100% behind him as he expected.

I thought I read last week that a law was passed last
week that protesters could receive a 15 year sentence.
So I guess he has been paying attention but life has no
meaning to him

It also seems that the Russia general public is not getting the information the rest of the world are hence why captured/surrendered Russian troops are being treated well and being allowed to ring home.
It would be quite nice if it all stopped!
Once you have retired every day is a Saturday!

 


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