ConocoPhillips Buying Shell Permian Assets for $9.5 Billion

Shell is nearing a deal to sell its Permian Basin assets to ConocoPhillips for $9.5 billion. This move is part of Shell's strategy to shift its business model under pressure to reduce emissions and focus on becoming a power company. The sale follows Shell's previous divestment of its oil sands project in Canada. Potential bidders included Conoco, Devin, and Chevron, with Chevron having made a significant acquisition of Noble. Shell's decision is influenced by a Dutch court ruling and the broader trend among European oil majors to adapt to changing environmental expectations.

What is the value of the deal between Shell and ConocoPhillips?

• $9.5 billion

• $5 billion

• $15 billion

• $10 billion

Which company did Chevron acquire in a separate transaction?

• Devin

• Noble

• Poncho

• Shell

How much has ConocoPhillips already spent on acquisitions in the Permian Basin?

• $10 billion

• $9.5 billion

• $15 billion

• $5 billion

What is one of the reasons Shell is selling its assets?

• To increase oil production

• To comply with a Dutch court ruling

• To acquire new assets

• To merge with another company

What is Shell's long-term business goal?

• To merge with ConocoPhillips

• To expand in the Permian Basin

• To become a power company

• To become a leading oil producer