Shell reportedly held talks to sell its Norwegian oil and gas fields

The move could have supported the energy giant’s ambition to focus investments on low carbon technologies

Shell has allegedly held talks to sell its Norwegian oil and gas fields.

According to Reuters, the energy giant discussed with Harbour Energy the prospect of selling its assets in Norway in a move that could potentially help it accelerate the company’s energy transition ambition.

The report cited sources claiming that the two sides did not reach an agreement as a result of volatile energy prices and economic uncertainty.

A few days ago, ELN reported that Shell’s earnings were set to be hit by more than $2 billion (£1.6bn) in the fourth quarter due to changes introduced in windfall taxes in the EU and the UK.

Last month, Harbour Energy, the largest producer in the North Sea, said it would pull out of the latest licensing round for North Sea oil and gas projects in light of the windfall tax.

ELN has approached Shell and Harbour Energy for comment – Harbour Energy declined to comment.

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