Exxon, Shell sell California oil assets for $4 billion to IKAV - 02 septembrie 2022
Exxon Mobil Corp (US.XOM) and Shell Plc (US.SHEL) on Thursday confirmed the sale of their California oil joint-venture Aera to German asset manager IKAV for $4 billion, ending a 25-year-long partnership that was one of the state's largest oil producers.
The Aera sale fits a strategy of focusing investments "in low-cost-of-supply oil and natural gas to meet consumer demand and create value for our shareholders," said Liam Mallon, president of Exxon's Upstream Company.