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Posts on ‘July 6th, 2021’

Shell To Bow Out Of California Joint Venture With Exxon

OILPRICE.COM

Shell To Bow Out Of California Joint Venture With Exxon

Shell (-2.37%) is reportedly planning to quit its California-based joint venture with fellow oil supermajor ExxonMobil (-3.56%) as it looks to accelerate its transition away from fossil fuels.

Four sources told Reuters that the FTSE blue chip had informed Exxon that it intended to exit subsidiary Aera Energy, in which it holds a 52 percent stake. The firm did not respond to a request for comment. read more

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