PRESS: Shell weighs potential sale of Texas shale assets - Reuters

(Alliance News) - Royal Dutch Shell PLC is reviewing its holdings in the largest US oil field for ...

Alliance News 14 June, 2021 | 8:07AM
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(Alliance News) - Royal Dutch Shell PLC is reviewing its holdings in the largest US oil field for a potential sale, Reuters reported on Sunday, citing people familiar with the matter.

The move is part of the oil major's shift away from fossil fuels as it faces growing pressure to slash carbon emissions, according to Reuters.

Reuters said the sale could be for part or all of Shell's position in the US Permian Basin, located mostly in Texas, which accounted for around 6% of the Anglo-Dutch company's total oil and gas output last year. The holdings could be worth more than USD10 billion, the people said.

https://www.reuters.com/article/us-shell-usa-permian-idUSKCN2DP0K5

Shell 'A' shares were 1.5% higher at 1,441.60 pence each in London early on Monday. The 'B' stock was up 1.5% at 1,379.60p.

By Arvind Bhunjun; arvindbhunjun@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Royal Dutch Shell PLC B 1,419.80 GBX -1.27
Royal Dutch Shell PLC Class A 1,443.20 GBX -1.06

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