Shell Looks to Unload Permian Basin Assets

The Permian Basin has been a massive growth driver for the oil and gas industry, but Royal Dutch Shell (NYSE: RDS.A)(NYSE: RDS.B) is joining a number of its peers in looking to exit its U.S. shale assets. A Reuters report on Sunday indicates the energy giant could be eyeing a sale of its Permian portfolio in a bid to lower its carbon emissions, but the shale position represented some 6% of Shell's total production last year. Shell had intended to reduce emissions by 20% over the next decade.