Stocks of Shell products imported to Malta are 'sufficient for the foreseeable future', Shell's representative in Malta has confirmed.

A spokesperson for Attard Services Ltd, the local representative, told Times of Malta that the company only imports, markets and distributes Shell lubricants, not fuel.

"In this respect, we can confirm that our company carries sufficient stocks of all main lubricants to meet local demand for the foreseeable future, and we do not envisage shortages," the company said.

"We can also confirm that additional buffer stock replenishments are also in motion."

On Tuesday, international oil mammoth Shell announced that it will withdraw from its involvement in all Russian hydrocarbons, including crude oil, petroleum products, gas and liquefied natural gas (LNG) in a phased manner, stopping first 'all spot purchases of Russian crude oil', and 'shutting down its service stations, aviation fuels and lubricants operations in Russia'.

CEO Ben van Beurden apologised after the corporation purchased a cargo of Russian crude oil last week, saying that even though it was seeking 'security of supplies', it was wrong to make the purchase. He vowed to commit all profits from the remaining Russian oil to a dedicated fund to help humanitarian agencies in their missions with the people of Ukraine. 

The Russian invasion of Ukraine is critically stretching the supply chains to Europe and US. The Malta Chamber of Commerce is warning that imports of key commodities to Malta from Ukraine and Russia are critical, with certain products highly exposed to shortages and price hikes as a result of the war.

Malta imported €53 million worth of products from Russia and Ukraine last year, including wheat and other ingredients for bread and food production.

Ongoing peace talks between Russia and Ukraine have so far remained unsuccessful.