Four sources told Reuters that the
If it does so, it will be the latest in a number of divestments the Anglo-Dutch giant has made this year amid growing pressure to up its climate commitments.
Aera is one of the Golden State’s biggest oil and gas producers, and employs around 1,100 people.
Aera produces about 125,000 barrels of oil and 32m cubic feet of natural gas each day, accounting for about 25 per cent of the state’s oil and gas production.
A sale would mark yet another sign that
The firm was reprimanded by a Dutch court last month when it ruled that the firm needed to accelerate its emissions reduction plans in a world first decision.
It must now lower emissions by 45 per cent by 2030 from 2019 levels, as opposed to by 2035 as it had initially planned.
Following the judgement, which
The post
© City AM, source