by Ron Busso, Jessica Resnick-Alt and David French
June 13 (Reuters) – Oil giant Royal Dutch Shell is reviewing its stake in America’s largest oil field for potential sale as the company looks to focus on its most profitable oil and gas assets and increase its investment in carbon. Wants to increase the low investment, the sources said.
The sale may include part or all of a shale position in the Permian Basin of the United States, located primarily in Texas. The properties could be worth up to $10 billion, said the sources, who asked to remain anonymous because the talks are private.
The company declined to comment.
Shell, one of the world’s largest oil companies, is under pressure to reduce its investment in fossil fuels to stem global climate change due to carbon emissions.
Shell and its rivals BP and Total have committed to reducing emissions through increased investment in renewable energy while divesting some holdings in oil and gas.
Earlier in the year, Shell established one of the most ambitious climate strategies in the region, aiming to reduce the carbon intensity of its products to at least 6% by 2023, 20% by 2030, 45% by 2035 and 100% by 2035. have to reduce. 2050 from 2016 levels.
However, a Dutch court last month said Shell’s efforts were not enough, ordering it to cut emissions by 45% from 2019 levels by 2030.
Last month, the International Energy Agency (IEA) said in a report that investments in new fossil fuel projects should be halted immediately to meet UN-backed targets to limit global warming.
(Written by David Gaffen; Edited in Spanish by Carlos Serrano)