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>>Shell might soon sell its Texa...
Royal Dutch Shell, a popular name in the energy and petrochemical segment, is now reviewing its US holdings. The company owns one of the biggest oil fields in the US, and it is expected to be on sale soon. This move will prove to be monumental in the company’s plans to shift away from fossil fuels. The sale is mainly due to the company’s position in the US, and it accounts for more than 6 percent of the company’s output. It is estimated that the current value of the holdings would be around $10 billion. It is not certain that Shell would strike a deal soon, but the company is under heavy scrutiny.
Shell is receiving pressure from its investors to increase the company’s profit while cutting down greenhouse gas emissions. Any change from the existing location would be termed as a major shift in its energy plans. For any activity in the Permian, profits have always remained elusive, mainly due to constant drilling and scale. The company’s energy transition plan is very ambitious, and it aims to reduce its outputs and increase the spending on hydrogen, renewables, and low-carbon techs. A court in Dutch has also ordered the company to curtail its greenhouse gas emissions by the year 2030.