Shell Selling Permian Basin Assets After Adverse Dutch Verdict?

Is Shell eyeing a massive sell off in the Permian Basin? A recent Reuters story reveals Royal Dutch Shell Plc is reviewing its holdings in the largest oil field in America, a possible sale involving 260,000 acres that could raise as much as $10 billion.

Last month, a Dutch court ordered Shell to revamp the company’s future plans by drastically accelerating carbon emission cuts more quickly. Shell previously announced that it planned to cut emissions by 20% by 2030. The Hague verdict ordered Shell to reduce its absolute emissions by 45% compared with 2019 levels.

Although Shell is expected to appeal the decision, Chief Executive Officer Ben van Beurden described a plan to take “bold but measured” steps to cut emissions.