Reuters exclusively reports Shell plans to exit California joint venture with Exxon Mobil

Reuters reported exclusively that Royal Dutch Shell Plc plans to leave Aera, its California-based oil and gas-producing joint venture with Exxon Mobil Corp. Shell has divested numerous carbon intensive assets this year, selling its refinery in Washington state to Holly Frontier Corp and its stake in a Houston-area refining joint venture to Petroleos Mexicanos, as it shifts new investments to renewables and power. The company is also considering a sale of its assets in the Permian Basin of Texas, Reuters previously reported.