Shell's net expenses from sale of filling stations, plant in Russia exceed $80 million

The net expenses of the British-Dutch oil and gas company Shell from the sale of filling stations and a plant in Russia amounted to $83 million. The loss from the exchange rate gap is $343 million.

Report informs referring to the company that by the end of the year, it will completely stop long-term purchases of oil from the Russian Federation from third parties, except for two contracts with small independent producers. The company is still working on an agreement to withdraw from the Sakhalin-2 LNG project.

The company's profit in the second quarter of 2022 increased from $3.4 billion to $18 billion amid a sharp rise in oil prices. Adjusted EBITDA (earnings before interest on loans, taxes, and depreciation) was $23 billion.

Shell's share in Sakhalin-2 is 27.5%. The company announced plans to withdraw from the project due to Russia's military operations in Ukraine.