Shell sells its Permian assets for $9.5 billion

Anglo-Dutch group Royal Dutch Shell announced on Monday the sale of its assets in the region known as the US shale-rich Permian Basin to rival ConocoPhillips for $9.5 billion.

Shell intends to use the money obtained from selling these assets – which produce about 175,000 barrels per day of crude oil – to the American company to pay an additional seven billion dollars to its shareholders and strengthen its financial resources, according to a statement.

This sale is taking place in the context of increasing pressure on the oil majors to diversify their investment portfolios and opt for more clean energy.

Just today, a meeting was held at the United Nations to prepare for the climate summit in Glasgow (UK) where the United Nations and London asked rich countries to do more in the fight against climate change.

“Developed countries must take the lead,” said UN Secretary-General Antonio Guterres, after meeting privately with some 40 leaders from around the world, to warn them that there was a “high risk of failure” at the Glasgow climate summit.

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