Oil Giant Shell Considers Possible Permian Basin Assets Sale: Reuters

  • Royal Dutch Shell is reviewing its holdings in the Permian Basin, Reuters reported on Sunday.
  • That may mean Shell sells some or all of its 260,000 acres in the oil field, Reuters reported.
  • Shareholders and activists have pressured oil corporations to reduce their carbon footprints.
  • See more stories on Insider’s business page.

Giant oil corporation Royal Dutch Shell is considering shedding some or all of its assets in the Permian Basin, Reuters reported on Sunday, underscoring the pressure Shell and its competitors are under to focus on transitioning to a carbon-neutral economy and combat climate change in the coming decades.

The Netherlands-based company has some 260,000 acres in the southern US oil field, the largest in the country, that could be worth as much as $10 billion, Reuters reported,…

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