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Energy Giants Ditch Oil and Coal Projects. Smaller Rivals Want Them.
Source: By David Hodari, Wall Street Journal • Posted: Thursday, April 22, 2021
BP, Rio Tinto and others sell assets for financial and environmental reasons, in possible boon for those who still embrace fossil fuels
Energy deals centered on the North Sea have resumed after a lull last year. Photo: robert perry/Shutterstock
For all the talk of a transition away from fossil fuels, players in the energy sector are still willing to bet there is more money to be made in oil and coal.
Major oil companies such as BPBP -1.76% PLC and Royal Dutch ShellRDS.A -1.86% PLC are selling billions of dollars of assets to bolster their finances and reduce carbon emissions, while mining companies including Anglo AmericanNGLOY -1.75% PLC and Rio TintoRIO -2.42% PLC have exited coal projects. ....

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