Shell To Bow Out Of California Joint Venture With Exxon ...Middle East

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Shell To Bow Out Of California Joint Venture With Exxon
source : OILPRICE ( Middle East ) () 43
Shell is reportedly planning to quit its California-based joint venture with fellow oil supermajor ExxonMobil 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 has…

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