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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.
If it does so, it will be the latest in a number of divestments the Anglo-Dutch giant has made this year amid growing pressure to up its climate commitments.
Shell (-2.37%) has already sold refineries in Washington State and Houston, and is also mulling getting rid of its assets on shale shelf the Permian Basin.
A sale would mark yet another sign that Shell is firm in its commitments to reduce the emissions it produces from its operations.
The firm was reprimanded by a Dutch court last month when it ruled that the firm needed to accelerate its emissions reduction plans in a world first decision.
It must now lower emissions by 45 percent by 2030 from 2019 levels, as opposed to by 2035 as it had initially planned.
Following the judgement, which Shell (-2.37%) said it would appeal, chief exec Ben van Beurden said that it would accelerate its net-zero plans.
This doesn’t mean Shell (-2.37%) is done with oil just yet, however. The company still has massive projects ongoing across the globe.
By City AM
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
